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Ascendas issues S$200M notes due 2023

Ascendas Real Estate Investment Trust issued S$200 million of notes, drawn down from its existing S$5 billion multicurrency medium-term note program, Moody's said in a release.

The notes have a coupon of 2.47% per year and will mature Aug. 10, 2023.

Proceeds will be used to refinance the company's existing borrowings.

As of Aug. 9, US$1 was equivalent to S$1.36.