Ascendas Real Estate Investment Trust issued 23,828,427 new units pursuant to its offer to exchange S$300.0 million of 1.60% securities due 2019.

The issue price for the exchangeable securities amounted to S$2.0144 per new unit, or an aggregate of S$48.0 million. The company's total number of issued units increased to 2,875,163,759 units, following the issuance of the converted securities.

Ascendas REIT said that the exchangeable collateralized securities have been exchanged and canceled. The new units will be listed and quoted on the main board of Singapore Exchange Securities Trading Ltd. on Jan. 23 at 9 a.m., local time.

As of Jan. 19, US$1 was equivalent to S$1.43.