CDL Hospitality Trust Prices SG$150 Million Worth of Bonds

MT Newswires

11/11

CDL Hospitality Trust (SGX:J85) priced SG$150 million worth of 3.7% subordinated perpetual securities under its SG$1.5 billion multicurrency debt issuance program, according to a Monday filing with the Singapore Exchange.

Shares of the trust were up nearly 2% in Tuesday trading.

DBS Bank has been appointed as sole global coordinator and joint lead manager and Oversea-Chinese Banking Corp. or OCBC (SGX:O39) has been appointed as joint lead manager for the issue of the bonds.

Proceeds raised from the bonds will be used towards the repayment of existing borrowings, with the bonds expected to be issued on Nov. 18.

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