Ascendas REIT prices $300m green issuance at 3% per annum

The orderbook was in excess of $725m across 57 accounts.

Ascendas Real Esetate Investment Trust (Ascendas REIT) has priced its $300m green subordinated perpetual securities at an initial rate of 3% per annum, according to an announcement.

The REIT shared that the orderbook for the green issuance was in excess of $725m across 57 accounts.

The first distribution rate reset will fall on 17 September 2025 with subsequent resets occurring every five years thereafter. The distribution will be payable semi-annually in arrear on a discretionary basis.

OCBC was the sole lead manager, bookrunner and green finance adviser for this transaction. 

This is the first real estate green perpetual securities in Asia, the REIT said. It also marks the second green issuance under the Ascendas Reit’s Green Finance Framework.