Ascott Residence Trust (ART) has issued its first sustainability-linked bond of S$200m (€135m) under its newly-established Sustainability-Linked Finance Framework.

The bond issue was upsized from S$150m to S$200m, and the final order book closed at S$335m.

SGX-listed ART is the first hospitality trust globally to issue a sustainability-linked bond, according to the company.

Beh Siew Kim, chief executive officer of Ascott Residence Trust Management and Ascott Business Trust Management, said: “Aligning our financing needs with our sustainability efforts to build a greener portfolio demonstrates ART’s focus on responsible growth.”

As of 31 December 2021, 33% of ART’s portfolio was green-certified and it targets to green the rest of its portfolio by 2030.

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