Suntec Reit raises S$280 million from pricey CB

The issuer’s investment grade rating and blue-chip assets, as well as an outstanding convertible that matures next month, help to boost demand and allow the deal to be upsized in full.

<div style="text-align: left;"> The Suntec City office towers (AFP)</div>

Anette Jönsson

February 20, 2013

Suntec Real Estate Investment Trust has raised S$280 million ($226 million) from a Singapore dollar-denominated convertible bond that attracted a lot of demand despite being aggressively priced. In fact, at the final terms, the fair value was actually below par.

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