CDL Hospitality Trusts Prices SG$100 Million Worth of Bonds

MT Newswires

02/11

CDL Hospitality Trusts (SGX:J85) priced SG$100 million worth of 4% subordinated perpetual bonds under its SG$1.5 billion multicurrency debt issuance program, according to a Tuesday filing with the Singapore Exchange.

Shares of the trust were down over 1% in Wednesday trading.

DBS Bank, Oversea-Chinese Banking Corp. or OCBC and United Overseas Bank were appointed as joint lead managers of the bonds.

The new bonds are expected to be issued on Feb. 20, while proceeds raised from the issuance will be used towards repayment of existing borrowings, the filing said.

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