Ascendas sets up S$3b funding programme

SINGAPORE - Ascendas Pte Ltd, which is part of the Ascendas-Singbridge Group, announced on Thursday (Oct 6) that it has established a new S$3 billion Euro Medium Term Note (EMTN) Programme.

The programme will supplement an existing S$1 billion Multicurrency Medium Term Note Programme which Ascendas launched in 2007. It allows Ascendas to issue notes or perpetual securities denominated in any currency.

Said Miguel Ko, group CEO of Ascendas-Singbridge: "The EMTN Programme will enable us to access international capital markets and diversify our funding sources further to support the growth of our business. With the EMTN Programme in place, we will have the financial flexibility to embark on projects and developments that ride on the rapid urbanisation trends across the region."

DBS, OCBC and HSBC's Singapre branch are joint arrangers and dealers of the EMTN Programme.

Earlier this week, Ascendas-Singbridge announced a S$1 billion joint venture with Japanese partners to redevelop the former CPF Building.