Singapore-listed Ascendas Hospitality Trust (SGX:Q1P) announced on 7 April that it has issued SGD75 million in 3.3% notes.

The notes, comprised in Series 001, are due in 2020 and issued pursuant to the the trust’s SGD1 billion multicurrency medium term note programme established on 15 October 2014.

DBS Bank and The Hongkong and Shanghai Banking Corporation Limited have been appointed as dealers of the Series 001 notes which have been offered primarily in Singapore.

Ascendas Hospitality Trust has indicated that it may use proceeds from the notes to finance existing borrowings or fund possible asset acquisitions and enhancement works, among othets.

Units of Ascendas Hospitality Trust are currently listed on the Singapore Exchange at SGD0.69.