By Aaron Hochman-Zimmerman
New York, May 8 - ARA Trust Management Ltd. (Baa2) priced an upsized S$85 million of one-year bonds with a coupon of 2.74%, according to a press release.
The issue was increased from S$75 million.
Citigroup acted as the bookrunner for the deal.
Proceeds will be lent to Suntec REIT and used for general working capital.
Suntec is a Singapore-based real estate investment trust firm.
| Issuer: | ARA Trust Management Ltd.
|
| Amount: | S$85 million
|
| Issue: | One-year bonds
|
| Maturity: | May, 2009
|
| Coupon: | 2.74%
|
| Bookrunner: | Citigroup
|
| Pricing date: | May 8
|
| Ratings: | Moody's: Baa2
|
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