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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

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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.

Singapore

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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