Ascendas Reit raises S$100m from maiden green bond

"The proceeds from our green bonds or loans will allow us to finance green projects that mitigate climate change by reducing greenhouse gas emissions, improving energy efficiency, reducing water consumption or having other positive environmental impact," Mr Tay added.Tan Kee Phong, head of capital markets at OCBC Bank, added:"Sustainability has become a key consideration for the market, and this has helped green financing gain traction over the last few years.

"What is even more encouraging is the success of this issuance amidst challenging economic conditions as it shows the resilience in investor appetite for such products." Net proceeds from the bond will be used to refinance 17 green properties in Ascendas Reit's portfolio, selected based on the eligibility criteria in the green finance framework. These properties include ONE@Changi City, Nexus@one-north and Aperia.

Ascendas Reit owns 34 properties in its Singapore portfolio with BCA Green Mark certifications, the largest number among Singapore Reits. The manager said it will continue its support of the Bulding and Construction Authority's Green Mark scheme. Units of Ascendas Reit fell S$0.03 or 0.9 per cent to close at S$3.41 on Monday, before the announcement.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

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