Suntec lowers conversion price of 3.25% convertible bonds to S$1.741

By Devika Patel

Knoxville, Tenn., Jan. 7 - Suntec Real Estate Investment Trust said it adjusted the conversion price of its S$270 million in 3.25% convertible bonds due 2013 to S$1.741 per conversion unit from S$1.759 per conversion unit, effective Jan. 20.

The adjustment is due to a distribution payment made to the company's unitholders.

Singapore-based Suntec REIT owns retail and commercial real estate in the central business district of Singapore.

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