Ascott REIT issues $120m notes due 2029

The notes are priced at 3.69% per annum.

Ascott REIT MTN Pte. Ltd has issued $120m worth of notes at 3.69% interest due 2029 under its $2b Multicurrency Debt Issuance Programme.

The notes are issued at 100% of the principal amount with an interest rate of 3.69% per annum with its maturity date set to 15 March 2029.

The United Overseas Bank Limited is authorized as the lead manager for this note issuance.

Proceeds, net of expenses, will be used to refinance existing borrowings of CapitaLand Ascott REIT and its subsidiaries.

The notes are expected to be listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on the business day following its issuance.

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