Ascendas Reit to issue HKD950 million (S$164.8 million) 2.63% notes due 2031
Add BT as a preferred sourceLisa Kriwangko
Ascendas Real Estate Investment Trust (Ascendas Reit), through its trustee HSBC Institutional Trust Services, has issued HKD 950,000,000 (S$164.8 million) notes with a fixed interest rate of 2.63 per cent per annum due to mature on Oct 24, 2031.
The notes are expected to be admitted to the Singapore Exchange's official list from Nov 2, at 9am. Their interest will be payable annually in arrear.
Approval in-principle has been received from the Singapore Exchange, said Ascendas Funds Management in a bourse filing on Monday. Directors have also appointed DBS as the sole lead manager for the notes.
Ascendas said that net proceeds from the issue of the notes, after deducting issue expenses, will be used for general working capital purposes of Ascendas Reit and its subsidiaries, if any.
Shares of Ascendas Reit closed 0.65 per cent or 2 Singapore cents higher at S$3.11 on Monday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Lamborghini-driving boss of Eminent Frog Porridge charged with S$3.8 million tax evasion, money laundering
TikTok slashes content moderation teams globally; Singapore among markets affected
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Sembcorp shares fall to four-month low; Citi cuts profit forecasts
