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Ascott Residence Trust sets precedent in skipping first call on perpetual

Some market watchers say non-call move could pave the way for other issuers to skip first calls

Ascott Orchard Singapore (above) is part of ART's portfolio here. ART is the largest hospitality trust in Asia-Pacific with an asset value of S$7.4 billion as of the end of last year.


ASCOTT Residence Trust (ART) will not be redeeming its S$250 million, 4.68 per cent perpetual issue on its first call date next month. The move sets a precedent for real estate investment trust (Reit) perpetuals.

In choosing not to call the perpetual, the hospitality...

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