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
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The report said the ad-hoc meeting is set to focus on support measures for the property sector, consumer spending and technological innovation.
Reuters also reported on Wednesday, citing sources, that China’s top leadership is set to convene a key meeting to hammer out measures to boost the economy and stabilize capital markets, as trade war with the United States escalates.