It will be used to fund the redemption of $150m 5% perpetual securities.
Ascott Residence Trust (REIT) issued $150m in aggregate principal amount of fixed rate perpetual securities through DBS, an announcement revealed.
The net proceeds arising from the issue (after the deduction of commissions, fees and expenses in connection with the issue) will be used to fund the redemption of the Ascott REIT$150m 5.00% perpetual securities with first call date on 27 October.
Accordingly, Singapore Exchange Securities Tradings Limited (SGX-ST) has granted approval for the listing and quotation of the securities. Furthermore, the securities are expected to be admitted to the official of the SGX-ST with effect from 9:00 AM on 5 September 2019.
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