For immediate release
NEWS RELEASE

CapitaLand Ascott Trust partners with the International FinanceCorporation on its first sustainability-linked bond in the hospitality sector
Singapore, 31 October 2022 – CapitaLand Ascott Trust (CLAS) has partnered with the InternationalFinance Corporation (IFC) to launch IFC’s first sustainability-linked bond in the hospitality sector
globally. IFC, a member of the World Bank Group and the largest global development institution
focused on the private sector in emerging markets, is the sole subscriber for the JPY16.5 billion (aboutS$157.4 million1) sustainability-linked bond.
The sustainability-linked bond is being issued as part of CLAS’ S$2 billion Multicurrency Debt Issuance
Programme with a fixed coupon rate of 1.05% per annum and is paid semi-annually in arrears. The
seven-year bond will mature in November 2029.
Proceeds from the bond will be used to refinance CLAS’ existing borrowings and to further decarbonise
three of CLAS’ serviced residences in Southeast Asia, namely Ascott Jakarta in Indonesia as well as
Ascott Makati and Somerset Millennium Makati in the Philippines. The three serviced residences areexpected to achieve a 40.5% reduction2 in electricity consumption by 31 December 2028. The projects
must also obtain IFC’s Excellence in Design for Greater Efficiencies (EDGE) certification within thesame timeframe.
The electricity consumption reduction target is aligned with the targets set out under the CapitaLand
2030 Sustainability Master Plan. The Master Plan outlines the Group’s efforts to accelerate its
transition to a low-carbon business, improve water conservation and resilience, and to enable a circular
economy.
Ms Serena Teo, Chief Executive Officer of CapitaLand Ascott Trust Management Limited andCapitaLand Ascott Business Trust Management Pte. Ltd. (the Managers of CLAS) said: “We placesustainability at the core of everything we do. Dovetailing our financing efforts with our environmental,social and governance efforts further affirms our commitment towards responsible growth. To date,
CLAS has raised about S$450 million through sustainable financing. CLAS continues to collaborate
with like-minded stakeholders in the financing and investment community to fight climate change
through our collective efforts. Currently, 35%3 of CLAS’ portfolio is green-certified and we remain on
track to green 50% of our portfolio by 2025 and our entire portfolio by 2030.”
Ms Kim-See Lim, IFC’s Regional Director for East Asia and the Pacific, said: “We are delighted tosupport CapitaLand Ascott Trust, Asia-Pacific’s largest lodging trust, in its efforts to help address theclimate crisis in the region through IFC’s first sustainability-linked bond in the hospitality sector. Our
1

Based on the exchange rate of 1JPY to S$0.00954
Using 2019 as the baseline
3
Based on gross floor area2

investment will support the decarbonisation of a portfolio of energy-intensive buildings, while alsoensuring that the energy reduction is specifically aligned with Net Zero targets.”
CapitaLand Ascott Trust consolidates reputation as a leader in sustainability in the hospitality sector
CLAS has achieved several firsts as part of its global sustainability drive, further consolidating its
reputation as a leader in sustainability in the hospitality sector. In October 2022, CLAS was named‘Global Sector Leader Hotel - Listed' and ranked first in the ‘Asia Pacific Hotel – Listed’ category in the2022 GRESB Real Estate Assessment (GRESB) for the second consecutive year. CLAS also scored‘A’ for public disclosure for the second year running. CLAS is also the only hospitality trust from the‘Asia Pacific Hotel – Listed’ category to receive the highest rating of 5 stars this year, placing CLAS in
the top 20% of the benchmark globally.
In April 2022, CLAS issued its first sustainability-linked bond of S$200 million under its newly
established Sustainability-Linked Finance Framework. CLAS is the first hospitality trust globally toissue a sustainability-linked bond and is also the first listed real estate trust in Singapore to issue asustainability-linked bond. The bond was well-received by investors and was about 2.2 times
oversubscribed.
CLAS has also received multiple accolades in recognition of its excellence in corporate governanceand investor engagement. In August 2022, CLAS was ranked first amongst REITs and Business Trustson the Singapore Governance and Transparency Index (SGTI) 2022 for the second consecutive year.
In the same month, CLAS also won the gold award for ‘Best Investor Relations’ amongst REITs andBusiness Trusts at the Singapore Corporate Awards 2022.
Partnership with IFC to pioneer a green certification for serviced residences
In 2018, CLAS’ sponsor, The Ascott Limited (Ascott) partnered with IFC to pioneer a green certification
for serviced residences, as part of IFC’s EDGE framework. The new international green benchmark
for serviced residences paves the way for more serviced residences to achieve an accredited and wellrecognised green certification. Ascott’s partnership with IFC also includes an exchange of knowledge
and research on sustainable design of serviced residences in developing regions such as Asia-Pacific,
Indochina, and Africa.
An innovation of IFC, the EDGE certification empowers emerging markets to scale up resource-efficientbuildings in a fast, easy, and affordable way. It enables developers and builders to quickly identify themost cost-effective strategies to reduce energy use, water use and embodied energy in materials.

About CapitaLand Ascott Trust (www.capitalandascotttrust.com)
CapitaLand Ascott Trust (CLAS), formerly known as Ascott Residence Trust (ART), is the largest
lodging trust in Asia-Pacific with an asset value of S$7.6 billion as at 30 June 2022. CLAS’ objective isto invest primarily in income-producing real estate and real estate-related assets which are used orpredominantly used as serviced residences, rental housing properties, student accommodation andother hospitality assets in any country in the world. CLAS was listed on the Singapore Exchange
Securities Trading Limited (SGX-ST) since March 2006, and is a constituent of the FTSE EPRA Nareit
Global Real Estate Index Series (Global Developed Index).

CLAS’ international portfolio comprises 95 properties with more than 17,000 units in 44 cities across
15 countries in Asia-Pacific, Europe and the United States of America as at 30 June 2022.
CLAS’ properties are mostly operated under the Ascott, Somerset, Quest and Citadines brands. They
are mainly located in key gateway cities such as Barcelona, Berlin, Brussels, Hanoi, Ho Chi Minh City,Jakarta, Kuala Lumpur, London, Manila, Melbourne, Munich, New York, Paris, Perth, Seoul, Singapore,
Sydney and Tokyo.
CLAS is a stapled group comprising CapitaLand Ascott Real Estate Investment Trust (CapitaLand
Ascott REIT), formerly known as Ascott Real Estate Investment Trust (Ascott REIT), and CapitaLand
Ascott Business Trust (CapitaLand Ascott BT), formerly known as Ascott Business Trust (Ascott BT).
CLAS is managed by CapitaLand Ascott Trust Management Limited (as manager of CapitaLand AscottREIT), formerly known as Ascott Residence Trust Management Limited, and CapitaLand AscottBusiness Trust Management Pte. Ltd. (as trustee-manager of CapitaLand Ascott BT), formerly knownas Ascott Business Trust Management Pte. Ltd. The manager and trustee-manager are wholly owned
subsidiaries of Singapore-listed CapitaLand Investment Limited, a leading global real estate investment
manager with a strong Asia foothold.
About CapitaLand Investment Limited (www.capitalandinvest.com)
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global realestate investment manager (REIM) with a strong Asia foothold. As at 30 June 2022, CLI had about
S$125 billion of real estate assets under management, and about S$86 billion of real estate funds
under management (FUM) held via six listed real estate investment trusts and business trusts, andmore than 20 private vehicles across Asia-Pacific, Europe and USA. Its diversified real estate assetclasses cover retail, office, lodging, business parks, industrial, logistics and data centres.
CLI aims to scale its FUM and fee-related earnings through fund management, lodging management
and its full stack of operating capabilities, and maintain effective capital management. As theinvestment management arm of CapitaLand Group, CLI has access to the development capabilities ofand pipeline investment opportunities from CapitaLand’s development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed toachieve net zero emissions by 2050. CLI contributes to the environmental and social well-being of thecommunities where it operates, as it delivers long-term economic value to its stakeholders.
About IFC (www.ifc.org)
IFC—a member of the World Bank Group—is the largest global development institution focused on theprivate sector in emerging markets. We work in more than 100 countries, using our capital, expertise,and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC
committed a record US$32.8 billion to private companies and financial institutions in developing
countries, leveraging the power of the private sector to end extreme poverty and boost sharedprosperity as economies grapple with the impacts of global compounding crises.
Stay Connected
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Important NoticeThis release may contain forward-looking statements. Actual future performance, outcomes and results
may differ materially from those expressed in forward-looking statements as a result of a number ofrisks, uncertainties and assumptions. Representative examples of these factors include (withoutlimitation) general industry and economic conditions, interest rate trends, cost of capital and capital
availability, availability of real estate properties, competition from other developments or companies,
shifts in customer demands, shifts in expected levels of occupancy rate, property rental income, chargeout collections, changes in operating expenses (including employee wages, benefits and training,property operating expenses), governmental and public policy changes and the continued availabilityof financing in the amounts and the terms necessary to support future business.
You are cautioned not to place undue reliance on these forward-looking statements, which are basedon the current view of management regarding future events. No representation or warranty express or
implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness orcorrectness of the information or opinions contained in this release. Neither CapitaLand Ascott TrustManagement Limited and CapitaLand Ascott Business Trust Management Pte. Ltd. (“Managers”) nor
any of their affiliates, advisers or representatives shall have any liability whatsoever (in negligence orotherwise) for any loss howsoever arising, whether directly or indirectly, from any use of, reliance on ordistribution of this release or its contents or otherwise arising in connection with this release.
The past performance of CapitaLand Ascott Trust ("CLAS") is not indicative of future performance. The
listing of the Stapled Securities in CLAS (“Stapled Securities”) on the Singapore Exchange Securities
Trading Limited (“SGX-ST”) does not guarantee a liquid market for the Stapled Securities. The valueof the Stapled Securities and the income derived from them may fall as well as rise. Stapled Securities
are not obligations of, deposits in, or guaranteed by, the Managers or any of their affiliates. An
investment in the Stapled Securities is subject to investment risks, including the possible loss of theprincipal amount invested. Investors have no right to request that the Managers redeem or purchasetheir Stapled Securities while the Stapled Securities are listed on the SGX-ST. It is intended that
holders of Stapled Securities may only deal in their Stapled Securities through trading on the SGX-ST.
This release is for information only and does not constitute an invitation or offer to acquire, purchaseor subscribe for the Stapled Securities.

Issued by:
CapitaLand Ascott Trust Management Limited
CapitaLand Ascott Business Trust Management Pte. Ltd.
168 Robinson Road, #30-01 Capital Tower, Singapore 068912
Tel: (65) 6713 2888 Fax: (65) 6713 2121
Website: https://www.capitalandascotttrust.com
IFC
10 Marina Boulevard, #11-01 Marina Bay Financial Centre Tower 2, Singapore 018983
Tel: (65) 6517 1210

For more information, please contact:
CapitaLand Ascott TrustAnalyst contact
Denise Wong
Head, Investor Relations & Sustainability
Tel: +65 6713 2151
Email: denise.wong@the-ascott.com
IFC
Media contact
Alec Macfarlane
Communications Officer
Tel: +1 (202) 203 8324
Email: amacfarlane@ifc.org

Media contact
Joan TanVice President, Group Communications
Tel: +65 6713 2864 / HP: +65 9743 9503
Email: joan.tanzm@capitaland.com