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

Singapore-listed Ascendas India Trust (SGX:CY6U), announced on 5 October that it has issued SGD30 million worth of 3.9% notes that will be due in 2020.

The bonds, known as the Series 006 notes, were issued under the SGD500 million multicurrency debt issuance programme established by the trust on 27 February 2009.

“The Series 006 notes will mature on 5 October 2020 and bear a fixed interest rate of 3.90% per annum payable semi-annually in arrear”, said the trust in its announcement.

“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”, it added.

Units of Ascendas India Trust are currently listed on the Singapore Exchange at SGD0.86.

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.