Singapore’s Ascendas lowers exchange price of Ruby Assets’ 1.6% notes

By Marisa Wong

Morgantown, W.Va., Oct. 20 – Ascendas Real Estate Investment Trust’s manager announced a reduction in the exchange price for the S$300 million 1.6% exchangeable collateralized securities due 2019 issued by Ruby Assets Pte. Ltd.

The exchange price will be lowered to S$2.0142 from S$2.0187, effective Nov. 29.

The price adjustment is due to an excess distribution of S$0.0054 per Ascendas unit.

Ascendas is a business space and light industrial real estate investment trust with a diversified portfolio of 17 properties in Singapore.

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