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Suntec REIT converts, cancels S$166.5M of bonds

Suntec Real Estate Investment Trust converted and canceled S$166.5 million of bonds, according to a filing.

The notes are part of HSBC Institutional Trust Services (Singapore) Ltd.'s issuance of S$300.0 million of 1.750% convertible notes due 2021. The company then issued 95,689,646 new units at a conversion price of S$1.74 apiece.

With the issuance of new units, Suntec now has 2,646,291,648 issued units. The listing and quotation of the new units on the main board of the Singapore Exchange Securities Trading Ltd. is expected to take place May 30 at 9 a.m., local time.

As of May 29, US$1 was equivalent to S$1.39.