First REIT commences buyback of S$60m perpetual securities

The REIT will pay 70% the principal amount and pay any unpaid distribution.

First REIT is buying back S$60m in subordinated perpetual securities.

The REIT’s trustee Perpetual (Asia) Limited has issued an invitation to securityholders of its Series 002 to submit a tender application form if interested. 

First REIT will pay 70% of the principal amount and will also pay the accrued but unpaid distribution on all securities accepted for sale. It will pay the securities in cash.

The offer expires on 2 September, 5 PM.

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An invitation memorandum will be emailed to each person who is, on the REIT’s records, a security holder with an address in Singapore. Foreign securityholders are advised to provide in writing a Singapore address to Tricor Barbinder Share Registration Services at least five days before 2 September.

Standard Chartered Bank (Singapore) has been appointed by the issuer as the deal manager in connection with the Invitation.

Securityholders may also obtain copies of the invitation memorandum and tender application form from the Tricor Barbinder Share Registration Services offices, located at 80 Robinson Road $11-02, Singapore, between 9AM to 5PM on weekdays.