Ascendas launches S$3 billion euro medium-term note program

By Marisa Wong

Morgantown, W.Va., Oct. 5 – Singapore’s Ascendas Pte. Ltd. announced it established a S$3 billion euro medium-term note program on Wednesday.

The new program is in addition to Ascendas’ existing S$1 billion multicurrency medium-term note program launched in 2007, according to a news release.

The euro MTN program covers notes or perpetual securities denominated in any currency.

DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and Hongkong and Shanghai Banking Corp. Ltd., Singapore Branch are the joint arrangers and dealers.

Proceeds from issuances under the program will be used to refinance existing debt, to finance potential acquisitions and for general corporate and working capital purposes.

Ascendas is a business space and light industrial real estate investment trust with a diversified portfolio of 17 properties in Singapore.

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