Singapore-listed hospitality REIT, Ascott Residence Trust (Ascott REIT) (SGX:A68U), announced on 23 November that it has issued SGD200 million in principal amount of 4.205% notes due 2022.

The notes were issued by Ascott REIT MTN Pte Ltd, a wholly owned subsidiary of DBS Trustee Limited acting in its capacity as trustee of the REIT and is part of the SGD1 billion multicurrency medium term note programme established in September 2009.

DBS Bank and Oversea-Chinese Banking Corporation Limited have been appointed as the managers in respect of this issue of the notes.

Units of Ascott REIT are currently listed on the Singapore Exchange at SGD1.19.