Ascendas REIT' property in Science Park, The Kendall (Photo by Ascendas REIT)Ascendas REIT's property in Science Park, The Kendall (Photo by Ascendas REIT)

Singapore-listed industrial REIT, Ascendas REIT, announced on 7 April that it has issued SGD130 million in 2.655% notes due 2021.

The notes are issued under the SGD5 billion multicurrency medium term note programme established in March 2009 and will bear a fixed interest rate of 2.655% per annum payable semi-annually in arrear.

DBS Bank Ltd. and United Overseas Bank Limited have been appointed as joint lead managers for the notes that were priced on 29 March 2016 and will mature on 7 April 2021.

The notes have been assigned a rating of “A3” by Moody’s Investor Service.

Net proceeds arising from the issue of the notes may be used towards financing or refinancing the acquisitions and investments of Ascendas REIT, among other purposes.

Units of Ascendas REIT last changed hands on the Singapore Exchange at SGD2.35.

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.