Chicago, Oct. 31 – CapitaLand Ascott Trust Management Ltd. via wholly owned subsidiary Ascott REIT MTN Pte. Ltd. placed ¥16.5 billion of 1.05% sustainability-linked notes due 2029 with International Finance Corp., according to a notice.
The notes were sold without a discount.
There is a guarantee from DBS Trustee Ltd.
Oversea-Chinese Banking Corp. Ltd. is the sole dealer manager.
The sustainability performance targets are linked to the achievement of a reduction in electricity consumption and achieving EDGE greenbuilding certifications.
Proceeds will be used for refinancing the existing borrowings of CapitaLand and to further decarbonize three of CapitaLand’s serviced residences in Southeast Asia.
The diversified real estate group is based in Singapore. The parent was formerly known as Ascott Residence Trust Management Ltd.
| Issuer: | Ascott REIT MTN Pte. Ltd.
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| Guarantor: | DBS Trustee Ltd.
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| Amount: | ¥16.5 billion
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| Issue: | Sustainability-linked notes
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| Maturity: | Nov. 7, 2029
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| Bookrunner: | Oversea-Chinese Banking Corp. Ltd.
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| Coupon: | 1.05%
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| Price: | Par
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| Yield: | 1.05%
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| Trade date: | Oct. 31
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| Distribution: | Private placement
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