Singapore’s First REIT accepts S$26.75 million tendered perpetuals

By Marisa Wong

Los Angeles, Sept. 2 – First REIT Management Ltd., manager of First Real Estate Investment Trust (First REIT), announced the final results of the Aug. 22 invitation by First REIT’s trustee, Perpetual (Asia) Ltd., to holders of its S$60 million series 002 subordinated perpetual securities (ISIN: SG73F5000007) to tender their securities for purchase for cash.

The issuer has accepted for purchase all S$26.75 million of securities tendered by the expiration of the offer at 5 a.m. ET on Sept. 2, according to a notice on Friday.

The securities will be purchased at 70% of par. The issuer will also pay accrued interest.

After settlement on Sept. 9, the principal amount outstanding will be S$33.25 million.

Standard Chartered Bank (Singapore) Ltd. (DCM.Singapore@sc.com) acted as dealer manager for the invitation.

Tricor Barbinder Share Registration Services (+65 6236 3550 / 3555; fax +65 6236 3405; is.corporateactions@sg.tricorglobal.com) is the tender agent.

First REIT is a Singapore-based health care real estate investment trust.

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