Facing COVID-19 distress, Ascott REIT skips first call on SGD250 million perps

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In a bid to diversify its funding sources, Ascott Residence Trust (Ascott REIT) has decided to forego the first call date on its SGD250 million fixed rate perpetual securities.

The move is seen as one that will re-shape expectations on perpetual securities issued by REITs in Singapore.

As reported by REITsWeek in 2015, Ascott REIT saw overwhelming demand for the perpetuals from investors when applications for the securities were opened in June that year.

Related: Ascott REIT reports strong investor demand for 4.68% fixed rate securities

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