By Marisa Wong
Madison, Wis., Sept. 4 – HSBC Institutional Trust Services (Singapore) Ltd., trustee of Ascendas Real Estate Investment Trust, issued HK$640 million of 3.64% 15-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.
Natixis is the dealer.
The issuer entered into a swap transaction to swap the Hong Kong dollar proceeds into Singapore dollars of S$103.3 million for the term of the notes, according to the announcement.
Proceeds will be used to refinance 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: | HK$640 million
|
| Maturity: | Sept. 4, 2029
|
| Dealer: | Natixis
|
| Coupon: | 3.64%
|
| Announcement date: | Sept. 4
|
| Rating: | Moody’s: A3
|
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