Sabana REIT's NTP+ (Sabana REIT)Sabana REIT's NTP+ (Sabana REIT)

A decision to carry out a bond issuance exercise for Sabana REIT has been done to reduce its overall funding cost, the REIT's manager has said.

The statement was issued late on 17 November in response to a statement from a substantial unitholder of Sabana REIT, Quarz Capital, which has alleged that the bond issuance will complicate a process to internalise the REIT’s manager.

Quarz has also described the bond issuance as “highly abnormal and extraordinary” in its letter that was issued on 14 June.

Related: Volare Group ups stake in Sabana REIT

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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.