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Ascendas REIT trustee issues S$200M of notes due 2025

Ascendas Real Estate Investment Trust trustee HSBC Institutional Trust Services (Singapore) Ltd. issued S$200.0 million of notes due March 2, 2025, under its S$5.00 billion multicurrency medium-term note program.

The notes will bear a fixed annual interest rate of 3.14%, payable semiannually in arrears.

Net proceeds will go toward refinancing the existing borrowings of the industrial REIT and its units, and for the group's general working capital purposes.

DBS Bank Ltd. is the sole lead manager and book runner for the notes.

As of March 1, US$1 was equivalent to about S$1.33.