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Property firms tapping bond market to raise funds at attractive rates

The 21-storey, 369-room Sheraton Tribeca hotel is Ascott Reit's second acquisition in New York in less than a year.


MORE property companies are leveraging the bond market to raise funds, with Ascott Reit and City Developments (CDL) both issuing bonds on Wednesday.

Ascott Reit issued S$120 million in eight-year bonds with a 4 per cent coupon rate, while CDL raised some S$115 million -...

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