By Marisa Wong
Madison, Wis., May 16 - HSBC Institutional Trust Services (Singapore) Ltd., trustee of Ascendas Real Estate Investment Trust, issued S$75 million of 2½% five-year notes, according to an announcement by Ascendas Funds Management (S) Ltd., the manager of the trust.
The notes (A3) were issued under the company's S$1 billion multicurrency medium-term note program established on March 20, 2009.
DBS Bank Ltd. is the dealer.
Proceeds will be used to finance or refinance acquisitions or investments, as well as to finance general working capital purposes and existing borrowings.
Ascendas is a business space and light industrial real estate investment trust with a diversified portfolio of 17 properties in Singapore.
| Issuer: | HSBC Institutional Trust Services (Singapore) Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$75 million
|
| Maturity: | May 16, 2019
|
| Dealer: | DBS Bank Ltd.
|
| Coupon: | 2½%
|
| Announcement date: | May 16
|
| Rating: | Moody's: A3
|
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