The bond is issued pursuant to its $2 billion Multicurrency Debt Issuance Programme, with proceeds from the bond issuance used to refinance ART’s existing borrowings.
Ascott Residence Trust (ART) has issued its first sustainability-linked bond of $200 million under its Sustainability-Linked Finance Framework. The trust is the first Singapore-listed real estate trust to issue a sustainability-linked bond, in addition to being the first hospitality trust in Singapore to secure a green loan in Jan 2021.
ART is the largest hospitality trust in APAC with an asset value of $7.7 billion as at Dec 31, 2021, with an international portfolio comprising 93 properties with over 17,000 units in 43 cities across 15 countries in APAC, Europe and the US.
