Ascendas REIT issues $164m notes
The notes have a 2.63% fixed interest rate per annum.
Ascendas Real Estate Investment Trust (Ascendas REIT) issued approximately $164.5m (HK$950m) worth of notes with a 2.63% fixed interest rate per annum payable annually in arrear.
The REIT’s manager said net proceeds from the note issuance will be used to finance the general working capital purposes of Ascendas REIT and its subsidiaries. This includes financing or refinancing the acquisitions of the REIT and its subsidiaries.
The notes are expected to be admitted to the SGX-ST’s official list from 9 a.m. on 2 November 2021.
“Approval in-principle has been received from the Singapore Exchange Securities Trading Limited (the “SGX-ST”) for permission to deal in and the listing and quotation of the Notes on the SGX-ST,” the REIT’s manager said in a bourse filing.
Meanwhile, the REIT’s directors have appointed DBS Bank Ltd. as the sole lead manager for the notes.
The notes will mature on 24 October 2031.