Suntec REIT cuts conversion price of S$280 million 1.4% bonds due 2018

By Susanna Moon

Chicago, Jan. 23 - Suntec REIT adjusted the conversion price of its S$280 million 1.4% convertible bonds due 2018, according to a press release by ARA Trust Management (Suntec) Ltd., as manager.

The conversion price will be lowered to S$2.111 from the current conversion price of S$2.154.

The adjustment is the result of a distribution of S$0.02562 per unit of Suntec REIT for the period of Oct. 1 to Dec. 31, the company said.

HSBC Institutional Trust Services (Singapore) Ltd. is the trustee.

Singapore-based Suntec owns retail and commercial real estate.

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