CapLand China Trust (SGX:AU8U) saw its stock price soar by 9.57% in Thursday's pre-market trading session, following the announcement of a significant bond issuance. The real estate investment trust (REIT) revealed plans to issue 600 million yuan (approximately US$92.8 million) worth of bonds, a move that appears to have boosted investor confidence.
According to a filing on the Singapore Exchange, the fixed-rate bonds will carry an interest rate of 2.88% and are set to mature on April 17, 2028. The bonds, priced at par, will be issued under CapitaLand China Trust's SG$1 billion multicurrency debt issuance program. Interest payments will be made semi-annually, providing a steady income stream for bondholders.
The substantial price jump suggests that investors view this bond issuance positively, potentially seeing it as a sign of the trust's financial strength and ability to secure favorable financing terms. The proceeds from the bond issuance are earmarked for general corporate purposes, investments, or refinancing existing debt, which could contribute to the trust's growth and financial flexibility. Additionally, the inclusion of a clause in the trust deed that protects against unauthorized changes in management may have further bolstered investor confidence in the stability of CapitaLand China Trust's operations.
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