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MARKETS & INVESTING | Staff Reporter, Singapore

Ascott REIT issues $61.37m notes at 0.97%

Proceeds will be used to refinance borrowings.

Ascott Residence Trust (Ascott REIT) priced its $61.37m (JPY5b) notes due 2025 at 0.97%, an announcement revealed.

The newly issued fixed rate notes are part of the $1b multicurrency medium term note programme launched back in September 2009.

Ascott REIT has appointed OCBC to be the dealer of the issuance of said notes.

The net proceeds from the notes will be utilised by the firm to refinance its existing borrowings.

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