By Susanna Moon
Chicago, March 27 - Ascendas Real Estate Investment Trust issued ¥5 billion of floating-rate notes due 2021, according to a notice by Ascendas Funds Management (S) Ltd., manager.
Interest will be Libor plus 50 basis points.
HSBC Institutional Trust Services (Singapore) Ltd. is the trustee, and the notes were issued under a S$1 billion multicurrency medium-term note program established on March 20, 2009.
Pricing was set on March 19.
The issuer entered into a swap transaction to swap the yen proceeds into Singapore dollars of S$62.31 million for the term of the notes, the notice said.
Proceeds will be used to help refinance the S$395 million equivalent of AAA-rated commercial mortgage-backed securities, which were issued by Emerald Assets Ltd. as euro-denominated notes.
Ascendas is a business space and light industrial real estate investment trust with a portfolio of 17 properties in Singapore.
| Issuer: | Ascendas Real Estate Investment Trust
|
| Issue: | Floating-rate notes
|
| Amount: | ¥5 billion
|
| Maturity: | 2021
|
| Coupon: | Libor plus 50 bps
|
| Pricing date: | March 19
|
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