Ascott Reit $150m fixed rate notes

Yet another Reit company seeking "refinancing", now it is Ascott Reit.

Refinancing is via the previously approved S$1B Multicurrency Medium Term Note Programme

The principal terms of the Notes are as follows:

Issue Size : S$150,000,000

Issue Price : 100% of the principal amount of the Notes

Interest : 3.80% per annum

Maturity Date : 16 December 2015

The net proceeds arising from the issue of the Notes will be used for the purpose of refinancing the existing borrowings of the Ascott Reit Trustee and/or Ascott Reit and its subsidiaries (the "Group"), financing the general working capital, asset enhancement works and corporate requirements (including acquisitions and investments), or on-lending to the Group.

The Notes will be listed and quoted in the Bonds Market with effect from Monday, 19 December 2011.

The Notes will be in denomination of S$250,000 and the Notes will be traded in trading board lot size of S$250,000.