CapitaLand: CapitaLand's recently proposed issuance of convertible bonds (CBs) to refinance existing CBs maturing in 2016, 2018 and 2022 is viewed as a positive by CLSA, as it will extend the company’s debt maturity profile and provide cost savings of some $1.3m per annum.
House maintains its High-Conviction BUY with TP of $4.30, with key catalysts being improving China sales momentum on the back of policy easing and potential asset divestments for its stabilised commercial portfolio in Singapore and China.
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