The manager for Singapore-listed industrial REIT Ascendas (SGX:A17U) announced on 2 March that the maximum aggregate principal amount of notes that may be issued under its multicurrency medium term note programme has been increased from SGD1 billion to SGD5 billion.

Proceeds arising from the issue of the notes will be used towards the REIT’s general working capital purposes including the financing or refinancing of property acquisitions, asset enhancement initiatives or the refinancing of existing borrowings.

The funds may also for loans to any trust, fund or entity in which Ascendas REIT has an interest in.

Units of Ascendas REIT are currently listed on the Singapore Exchange at SGD2.51.