Artist's impression of the BlueRidge Phase II of Ascendas India Trust. (Photo: Ascendas India Trust)

Ascendas India Trust (SGX:CY6U) announced on 23 September that it has priced the SGD30 million worth of 3.9% notes due in 2020.

The notes, also known as the Series 006 notes, bear interest at 3.90% per annum, payable semi-annually in arrear, and have a tenor of five years. Mizuho Securities Asia Limited and Standard Chartered Bank have been appointed as dealers of the notes.

“The net proceeds arising from the issue of Series 006 notes will be used for the purpose of funding on-going development projects in Bangalore and Hyderabad and general corporate purposes”, said Ascendas India Trust in its announcement.

An application to list the notes will be made to the Singapore Exchange. The notes are expected to be issued on 5 October 2015 and listed on or about 6 October 2015, said the trust.

Units of Ascendas India Trust are currently listed on the Singapore Exchange at SGD0.845.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.