By Marisa Wong
Morgantown, W.Va., Nov. 9 – Ascott Residence Trust announced that Ascott REIT MTN Pte. Ltd. issued S$100 million of 3.523% five-year notes at par on Friday.
The notes were issued under the company’s S$1 billion multicurrency medium-term note program established in September 2009, according to trust manager Ascott Residence Trust Management Ltd.
The notes are guaranteed by Ascott REIT MTN’s parent, DBS Trustee Ltd., which is also the trustee for Ascott Residence.
United Overseas Bank Ltd. is the dealer for the issue.
Proceeds will be used to refinance existing borrowings.
Ascott REIT is a Singapore-based pan-Asian residence real estate investment trust and an associate of Singapore property developer CapitaLand.
| Issuer: | Ascott REIT MTN Pte. Ltd.
|
| Guarantor: | DBS Trustee Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | S$100 million
|
| Maturity: | Nov. 9, 2023
|
| Dealer: | United Overseas Bank Ltd.
|
| Coupon: | 3.523%
|
| Price: | Par
|
| Yield: | 3.523%
|
| Settlement date: | Nov. 9
|
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