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Ascendas REIT exchanges, cancels S$11M of securities under S$300M offering

Ascendas Real Estate Investment Trust exchanged and canceled approximately S$11.3 million of exchangeable collateralized securities, which were issued by Ruby Assets Pte. Ltd. as part of the S$300.0 million offering of 1.60% securities due 2019.

Pursuant to the offering, the REIT issued 5,584,788 new units at an exchange price of S$2.0144 apiece. The newly issued units brought the total number of Ascendas REIT units to 2,882,237,824.

The company said that the new units will be listed and quoted on the Main Board of Singapore Exchange Securities Trading Ltd. on Feb. 3 at 9 a.m., local time.

As of Feb. 1, US$1 was equivalent to S$1.42.