Ascendas sets up new S$3b funding programme

INDUSTRIAL developer Ascendas, part of the government-owned Ascendas-Singbridge urban development group, said it has set up a S$3 billion Euro Medium Term Note programme.

DBS, OCBC and HSBC are joint arrangers and dealers.

Under the programme, Ascendas can issue notes or perpetual securities denominated in any currency.

The new funding programme is an addition to an existing S$1 billion multi-currency medium term note programme.

Miguel Ko, Ascendas-Singbridge CEO, said in a statement that the note programme will allow the firm to tap international capital markets and diversify its funding sources to support business growth.

"We will have the financial flexibility to embark on projects and developments that ride on the rapid urbanisation trends across the region," he said.