Ascendas Reit sets up S$7b euro medium-term securities programme

THE trustee of Ascendas Real Estate Investment Trust (Ascendas Reit) on Tuesday established a S$7 billion euro medium-term securities programme, the Reit manager said on Wednesday.

The net proceeds from the issue of each tranche of notes or perpetual securities will be used for financing or refinancing Ascendas Reit's acquisitions and/or investments and any development and asset enhancement works the Reit initiates or has an interest in.

Net proceeds will also be used for on-lending to any trust, fund or entity which Ascendas Reit has an interest in, financing the general working capital purposes of Ascendas Reit and any subsidiaries, as well as their existing borrowings.

OCBC is the sole arranger and dealer for the programme.

Units of Ascendas Reit closed at S$3.42 on Tuesday, down S$0.03 or 0.9 per cent.