A $500 million, 10-year 3.8 per cent bond issue for CapitaLand Treasury has received $2 billion orders and was four times subscribed. The issue closed Thursday.
Private bank investors made up 33 per cent of the buyers for CapitaLand Treasury's bonds, while fund managers and insurance companies made up 59 per cent.
The bonds are sold at $250,000 a pop. DBS is a joint book runner.
Clifford Lee, Head of Fixed Income, DBS Bank, said this issue is the "largest ever Singapore-dollar senior bond issuance at lowest interest coupon for CapitaLand and largest Singapore-dollar issuance from a real estate issuer in recent years."
He said it is also the "first bond issuance since CapitaLand's sale of its stake in AustraLand and privatisation of CapitaMalls Asia, creating a more streamlined organisational structure."
"The strong order book demonstrates good response from the market to these developments. The books attracted high level of participation from high quality institutional and private banking investors, a strong testament to the recent organisational streamlining of the group," he said.