Suntec trims conversion price of 1.75% convertibles due 2021

By Rebecca Melvin

New York, Jan. 26 – Suntec Real Estate Investment Trust will lower the conversion price of its S$300 million 1.75% convertible bonds due 2021 following payment of a distribution.

The conversion price for the 2021 convertibles will be adjusted to S$1.96 from S$1.98.

The adjustment is due to a distribution of S$0.02261 per unit for the period of Oct. 1 to Dec. 31 and will become effective Feb. 26, according to a news release from the REIT’s manager, ARA Trust Management (Suntec) Ltd.

Singapore-based Suntec owns retail and commercial real estate.

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