Singapore’s Sabana trims conversion price on 4.5% convertible sukuk

New York, Jan. 29 – Sabana Shari’ah Compliant Industrial Real Estate Investment Trust said that it lowered the conversion price for its S$80 million 4.5% convertible sukuk due 2017.

The new price is S$1.0971, reduced from S$1.1199 effective Jan. 30.

Sabana is making the change due to a distribution of S$0.0178 for the Oct. 1, 2014 to Dec. 31, 2014 period that will be paid to unitholders as of Jan. 29.

The real estate investment trust owns 23 industrial, warehouse and logistics buildings and is based in Singapore.

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