By Marisa Wong
Morgantown, W.Va., Aug. 10 – Ascendas Real Estate Investment Trust issued S$200 million of 2.47% six-year notes, according to a company announcement.
The notes (A3) were issued by HSBC Institutional Trust Services (Singapore) Ltd., trustee of Ascendas.
Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd. were the joint lead managers.
The notes were issued under the company’s S$5 billion multicurrency medium-term note program, which was established in March 2009 and upsized from S$1 billion in March 2015.
Funds from the new notes will be used to refinance existing borrowings.
Ascendas is a business space and light industrial real estate investment trust in Singapore. The trust is managed by Ascendas Funds Management (S) Ltd.
| Issuer: | HSBC Institutional Trust Services (Singapore) Ltd. (for Ascendas Real Estate Investment Trust)
|
| Issue: | Fixed-rate medium-term notes
|
| Amount: | S$200 million
|
| Maturity: | Aug. 10, 2023
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| Lead managers: | Oversea-Chinese Banking Corp. Ltd. and United Overseas Bank Ltd.
|
| Coupon: | 2.47%
|
| Pricing date: | Aug. 2
|
| Rating: | Moody’s: A3
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