Ruby Assets lowers exchange price for 1.6% exchangeables to S$2.3639

By Marisa Wong

Madison, Wis., April 18 - Ruby Assets Pte. Ltd., a special-purpose vehicle of Ascendas Funds Management Ltd. and Ascendas Real Estate Investment Trust, adjusted the exchange price of its S$300 million 1.6% exchangeable collateralized securities due 2019, according to an Ascendas REIT announcement.

The exchange price will be S$2.3639, effective May 9. The current exchange price is S$2.4076.

The price adjustment is the result of a distribution payment to Ascendas REIT unitholders scheduled for May 9.

Ascendas is a business space and light industrial REIT with a diversified portfolio in Singapore.

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