By Marisa Wong
Morgantown, W.Va., Feb. 4 – Ascendas Real Estate Investment Trust issued HK$500 million of 3% 10-year notes, according to a company announcement.
The notes (A3) were issued by HSBC Institutional Trust Services (Singapore) Ltd., trustee of Ascendas.
DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd. were the joint lead managers.
The issuer has entered into swap transactions to swap the Hong Kong dollar proceeds into Singapore dollar proceeds of about S$91.6 million.
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. (Ascendas Real Estate Investment Trust)
|
| Issue: | Fixed-rate medium-term notes
|
| Amount: | HK$500 million
|
| Maturity: | Feb. 4, 2026
|
| Lead managers: | DBS Bank Ltd., Hongkong and Shanghai Banking Corp. Ltd.
|
| Coupon: | 3%
|
| Announcement date: | Feb. 4
|
| Rating: | Moody’s: A3
|
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