CapitaLand Ascott Trust flags manager-replacement clause in SGD 200 million loan

SGX Filings

Jul 31

CapitaLand Ascott Trust (CLAS) said on Jul, 31 2026 that its trustee has entered into a revolving credit facility of up to 200 million Singapore dollars with China Construction Bank Corporation, Singapore Branch.

The facility agreement includes a clause requiring the real estate investment trust to remain managed by CapitaLand Ascott Trust Management Limited. A change of manager without the lender’s consent would constitute a review event, allowing the bank to cancel the facility and demand full repayment within 14 days.

CapitaLand Ascott Trust noted that if such an event led to cross-defaults, about 3.16 billion Singapore dollars of other outstanding facilities could also be affected.

The trust said there has been no breach of this condition as of the announcement date.

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