A-Reit issues S$130m 2.655% notes under Multicurrency Medium Term Note Programme

ASCENDAS Funds Management (S) Limited, the manager of Ascendas Real Estate Investment Trust (A-Reit), on Thursday announced that HSBC Institutional Trust Services (Singapore) Limited - in its capacity as trustee of A-Reit - has issued S$130 million 2.655 per cent notes due 2021 to institutional investors.

The notes are issued under the S$5 billion Multicurrency Medium Term Note Programme established by HSBC on March 20, 2009.

For the avoidance of doubt, the programme limit was increased from S$1 billion to S$5 billion on March 2, 2015.

DBS and UOB have been appointed as joint lead managers for the notes. The notes, priced on March 29, 2016, will mature on April 7, 2021 and bear a fixed interest rate of 2.655 per cent per annum, payable semi-annually in arrear.

Net proceeds arising from the issue of the notes will be used towards financing or refinancing the acquisitions and investments of A-Reit and any development and asset enhancement works initiated by A-Reit or any trust, fund or entity in which A-Reit has an interest; on-lending to any trust, fund or entity in which A-Reit has an interest; and financing the general working capital purposes of A-Reit and its subsidiaries; and refinancing the existing borrowings of A-Reit and its subsidiaries.