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Sabana REIT unit redeems S$90M of trust certificates

Singapore-listed Sabana Shari'ah Compliant Industrial REIT's Sabana Sukuk Pte. Ltd. unit fully redeemed S$90.0 million of 4.00% trust certificates due 2018.

The certificates were issued under the company's S$500.0 million multicurrency Islamic trust certificates issuance program.

The company used its existing credit facilities to fund the redemption.

As of March 19, US$1 was equivalent to S$1.32.