ARA Asset redeems S$19.75 million of 4.15% notes via put option

Chicago, March 15 – ARA Asset Management Ltd. reported that holders of S$19.75 million of its S$100 million 4.15% notes due 2024 (ISIN: SGXF61065755) exercised their put option due to a change-of-control event on Jan. 27, according to a press release.

Payment was made on Monday and those notes have been redeemed and canceled.

As of Tuesday, there are S$80.25 million of the notes outstanding.

The real estate asset manager is based in Singapore.

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