Stocks to watch: CapitaLand Ascott Reit, EC World Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Nov 21):

CapitaLand Ascott Real Estate Investment Trust (Clas) : Ascott Reit MTN, a unit of the Reit trustee, has issued S$165 million of 5 per cent notes due May 18, 2026, announced the trustee-manager on Friday (Nov 18). The notes are issued under its S$2 billion multi-currency debt issuance programme established in September 2009. Net proceeds from the issuance will be used to refinance the existing borrowings of Clas and its subsidiaries. Units of Clas closed at S$0.96, down 0.5 per cent or S$0.005, before the announcement.

EC World Real Estate Investment Trust (EC World Reit): The long-stop date for transaction financing by purchasers of its divestment properties has lapsed, due to delays caused by “stringent Covid-19 controls” as well as events that took place in China. In an update on Sunday, the Reit manager said while this is not grounds to terminate the transaction, it may affect the completion of the proposed divestment by Dec 31. Units of EC World Reit closed on Friday up 1 per cent or S$0.005 at S$0.49.