Ascott REIT’s oversubscribed perpetual bond issuance raises $250m

Orders exceeded $1 billion.

Ascott REIT raised $250m from its oversubscribed issuance of perpetual securities, with orders exceeding $1 billion or over four times the issue size.

The bonds have a fixed distribution rate of 4.68% per annum. The group said that the proceeds will be used to fund potential acquisitions in the future.

The perpetual securities which will be accounted as equity will be unrated. OCBC Bank is the sole lead manager, bookrunner and underwriter for the issuance of the perpetual securities.

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