SINGAPORE: CapitaLand Commercial Trust, Singapore’s biggest office landlord, agreed to buy BlackRock Inc’s Asia Square Tower 2 for US$1.5bil (RM6.5bil) in the city’s second largest ever sale of an office building.
The transaction will be partially funded by a rights issue of about S$700mil and bank borrowings of about S$1.12bil, CapitaLand Commercial Trust said in a statement. The company said divestment proceeds of about S$340.1mil from previous property deals will also help fund the purchase.
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