Ascendas Reit launches $7b Euro medium term securities programme

It will finance or refinance the trust’s acquisitions and/or investments.

Ascendas Reit has established a $7b Euro medium term securities programme (EMTN programme), an SGX filing revealed. HSBC was appointed as the issuer of the programme, whilst OCBC is the sole arranger and dealer.

The net proceeds from the issue of each tranche of notes or perpetual securities will be used to finance or refinance the acquisitions and/or investments of Ascendas Reit and any development and asset enhancement works initiated by Ascendas Reit or any trust, fund or entity in which the trust has an interest in.

It will also be used towards on-lending to any trust, fund or entity in which Ascendas Reit has an interest, finance the general working capital purposes of Ascendas Reit and its subsidiaries and refinancing the existing borrowings of the group.