Of the target proceeds raised, CLINT will use $100 million to partially fund the ongoing development and construction of an office building, Building 1 in Ebisu, Bangalore, in return for an annual coupon rate of at least 11.5% payable to CLINT. The terms come an under an existing forward purchase agreement CLINT entered into with the developer of the building. The building, which measures some 1.2 million sq ft, has a remaining funding commitment of around INR8.6 billion ($123 million) as at Dec 31, 2025.
CapitaLand India Trust (CLINT) is seeking to raise $150 million in gross proceeds via a private placement for institutional, accredited and “other” investors.
The units will be issued at a price range of between $1.208 and $1.237, which represents a discount of between 2.6% and 4.9% to the volume weighted average price (VWAP) of $1.2701 per unit on Feb 23. The price range also represents a discount of between 1.5% and 3.8% to the adjusted VWAP of $1.2557 per unit on the same day.
