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Singapore’s Sabana lowers conversion price on 4.5% sukuk due 2017
By Marisa Wong
Morgantown, W.Va., Oct. 25 – Sabana Shari’ah Compliant Industrial Real Estate Investment Trust said it will lower the conversion price for its S$80 million 4.5% convertible sukuk due 2017.
The conversion price will be reduced to S$1.0131 from S$1.0431, effective Wednesday.
The adjustment is due to a distribution of S$0.012 for the period from July 1 to Sept. 30 that will be paid to unitholders as of Oct. 25, according to a company notice.
The real estate investment trust owns 23 industrial, warehouse and logistics buildings and is based in Singapore.
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