Singapore's Ascendas India plans S$500 million note program

By Susanna Moon

Chicago, March 2 - Ascendas India Trust said Ascendas Property Fund Trustee Pte. Ltd., as trustee-manager, has established a S$500 million multicurrency medium-term note program.

The issuer may issue notes from time to time in Singapore dollars, U.S. dollars or any other currency. Notes may be issued in various amounts and tenors and may bear fixed, floating or variable rates of interest. Hybrid or zero-coupon notes also may be issued under the program.

Proceeds will be used for refinancing or repayment of loans, financing or refinancing investments, asset enhancement or construction works, fund or entity and financing business activities and general working capital.

The issuer has applied to list the notes on the Singapore Exchange Securities Trading Ltd.

Citicorp Investment Bank (Singapore) Ltd. and DBS Bank Ltd. are arrangers and dealers.

Ascendas India Trust is a Singapore-based business trust that owns income-producing real estate used primarily as business space in India.

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