By Marisa Wong
Morgantown, W.Va., Nov. 23 – Ascott Residence Trust announced that Ascott Reit MTN Pte. Ltd. issued S$200 million of 4.205% seven-year notes at par on Monday.
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.
DBS Trustee has entered into transactions to swap the notes’ Singapore dollar proceeds into euros, amounting to €131,974,477 at a fixed interest rate of 1.8142%.
DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd. are the managers for the issue.
Proceeds will be used to refinance existing borrowings and for general corporate purposes.
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$200 million
|
| Maturity: | Nov. 23, 2022
|
| Coupon: | 4.205%
|
| Price: | Par
|
| Yield: | 4.205%
|
| Managers: | DBS Bank Ltd. and Oversea-Chinese Banking Corp. Ltd.
|
| Settlement date: | Nov. 23
|
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