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.
To read the latest edition of the latest IPE Real Assets magazine click here.
