Singapore's Ascendas adjusts exchange price of Ruby Assets' 1.6% collateralized securities

By Jennifer Chiou

New York, Jan. 14 - Ascendas Funds Management (Singapore) Ltd., manager of Ascendas Real Estate Investment Trust, announced an update to the exchange price for the S$300 million of 1.6% exchangeable collateralized securities due 2019 issued by Ruby Assets Pte. Ltd.

The securities will be exchangeable into new A-REIT units at a price of S$2.2392, effective Feb. 27. The current exchange price is S$2.2727.

The change is in connection with a distribution to be paid to unitholders on Feb. 27.

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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