• CDL Hospitality raises cash to pay debt

Singapore-based CDL Hospitality Trusts said today it has raised Sing$200m by placing 116.96 million new units with investors at Sing$1.71 per unit.

The company, which owns hotels in Singapore, Australia and New Zealand, raised the money to pay off part of its debt. The price is at the bottom of the indicative range set by CDL on Tuesday. It represents a 9.4% discount to CDL volume weighted average price on June 21, 2010, news wires reported.

See the full announcement here: http://cdlhtrust.listedcompany.com/newsroom/20100623_090007_J85_4F0DBFC691689017482577490019BE0A.1.pdf

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