Singapore-listed India-focused industrial property landlord Ascendas India Trust (SGX:CY6U) has issued SGD50 million in notes, dubbed the Series 005 Notes, on 27 August.

The notes are issued under the SGD500 million Multi Currency Debt Issuance Programme established by Ascendas India Trust on 27 February 2009.

The notes will mature on 27 August 2019 and bear a fixed interest rate of 3.80% per annum payable semi-annually in arrear. The net proceeds arising from the issue of the notes will be used by the trust for the purpose of refinancing existing borrowings.

The Hongkong and Shanghai Banking Corporation Limited and Mizuho Securities Asia Limited have been appointed as the dealers of the notes which are expected to be listed on the Singapore Exchange (SGX) on 28 August.

Units of Ascendas India Trust are currently listed on the SGX at SGD0.815.