Unit of CapitaLand Ascott Reit trustee issues S$165m of 5% notes due in 2026
THE managers of CapitaLand Ascott Real Estate Investment Trust (CapitaLand Ascott Reit) and CapitaLand Ascott Business Trust said on Friday (Nov 18) that Ascott Reit MTN – a wholly-owned subsidiary of the trustee of CapitaLand Ascott Reit – has issued S$165 million of 5 per cent notes due May 18, 2026.
The notes are issued under its S$2 billion multicurrency debt issuance programme established in September 2009 and amended in July 2020. The payment obligations of Ascott Reit under the notes will be unconditionally and irrevocably guaranteed by DBS Trustee, in its capacity as trustee of CapitaLand Ascott Reit.
The net proceeds arising from the issue of the notes will be used for refinancing the existing borrowings of CapitaLand Ascott Reit and its subsidiaries.
Ascott Reit MTN has entered into swap transactions to swap the Singapore dollar-denominated coupon payments of the notes into Japanese yen at a fixed interest rate of 1.06 per cent per annum.
CapitaLand Ascott Reit and CapitaLand Ascott Business Trust make up stapled group CapitaLand Ascott Trust (Clas).
Units of Clas closed at S$0.96 on Friday, down 0.5 per cent or S$0.005, before the announcement.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Texas Instruments gives solid forecast in sign of comeback
Cordlife customers push for legal action
China’s Noah to hire 50 to 100 wealth managers in Hong Kong, Singapore
Australian inflation boosts case for higher-for-longer rates
Gold edges down as Middle East worries ebb
Tesla could start selling Optimus robots by the end of next year, Musk says