Singapore’s Ascendas again trims exchange price of Ruby Assets’ notes

By Susanna Moon

Chicago, Oct. 22 – Ascendas Real Estate Investment Trust’s manager announced another reduction in the exchange price for the S$300 million of 1.6% exchangeable collateralized securities due 2019 issued by Ruby Assets Pte. Ltd.

The exchange price was lowered to S$2.0805 from S$2.0886, according to a notice by Ascendas Funds Management (Singapore) Ltd., manager of Ascendas REIT.

The price adjustment is due to the distribution to be paid to unitholders for the period from April 1 to Sept. 30, the release said.

As announced April 23, the exchange price was previously lowered from S$2.1394 due to a payout to unitholders on May 29.

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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