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CapitaMalls Asia Bonds On Offer

>> Wednesday, January 4, 2012

CapitaMalls Asia is offering up to S$400 million of 10-year callable step-up bonds. DBS is the sole bookrunner and lead manager.

The issue has an initial offering of S$100 million for retail investors and S$100 million under a placement for institutional investors. Another S$200 million may be issued in event of excess demand.

The bonds are callable at par by the issuer after 5 years, i.e. 2017 through 2021 yearly on Jan 12.

They will bear a 3.8 per cent coupon for the first five years of their tenor and 4.5 per cent thereafter.

It looks like this is going to be another hot issue. 3.8 per cent is nothing to shout for, but it is better than zero point zero, something per cent. After 5 years if the interest rate environment is still low, they will call the bonds, however, if rates have increased, they can maintain it and pay the 4.5 per cent.

4 comments:

Calvin January 5, 2012 at 3:07 PM  

Hi Lau,

I have written a post on the CapitaMalls Asia bond public offering as well.

http://www.investinpassiveincome.com/capitamalls-asia-public-offering-of-10-year-retail-bonds-at-3-8-pa/

Thanks.

Rgds,
Calvin
http://www.investinpassiveincome.com

Lau January 7, 2012 at 9:04 AM  

Hi Calvin

Yes, great write up. More detailed and a nice comparison.

farmland investing January 25, 2012 at 11:58 AM  

Capital Malls is a great offering. I've seen several bloggers recommend it.

Lau January 25, 2012 at 11:05 PM  

Yes. Tried to get some myself.

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