Notes to the Financial Statements Year ended 31 December 2024 16 FINANCIAL LIABILITIES CapitaLand Ascott REIT Group CapitaLand Ascott BT Group Stapled Group 2024 2023 2024 2023 2024 2023 $’000 $’000 $’000 $’000 $’000 $’000 Non-current liabilities Secured bank loans 843,878 879,165 49,936 51,626 893,814 930,791 Unsecured bank loans 1,101,780 722,565 30,592 48,517 1,132,372 771,082 Medium term notes 504,155 430,755 – – 504,155 430,755 Sustainability-linked notes 343,066 353,371 – – 343,066 353,371 2,792,879 2,385,856 80,528 100,143 2,873,407 2,485,999 Current liabilities Secured bank loans 110,909 174,441 – – 110,909 174,441 Unsecured bank loans 97,444 117,571 48,281 33,240 145,725 150,811 Medium term notes 43,478 237,110 – – 43,478 237,110 251,831 529,122 48,281 33,240 300,112 562,362 3,044,710 2,914,978 128,809 133,383 3,173,519 3,048,361 The weighted average effective interest rates per annum relating to bank loans, medium term notes and sustainabilitylinked notes at the reporting date for the CapitaLand Ascott REIT Group, the CapitaLand Ascott BT Group and the Stapled Group are 4.13% (2023: 4.34%), 5.35% (2023: 5.29%) and 4.18% (2023: 4.38%) respectively. Included in the CapitaLand Ascott REIT Group’s, the CapitaLand Ascott BT Group’s and the Stapled Group’s bank loans, medium term notes and sustainability-linked notes is an amount of $12,038,000 (2023: $11,384,000), $605,000 (2023: $683,000) and $12,643,000 (2023: $12,067,000) respectively, relating to unamortised transaction costs. Secured bank loans The CapitaLand Ascott REIT Group’s secured bank loans are secured on certain investment properties (Note 4), an investment property held for sale (Note 14), pledge of shares of certain subsidiaries, pledge over certain bank deposits (Note 15), assignment of rental proceeds from the properties, assignment of insurance policies on the properties and corporate guarantee from CapitaLand Ascott REIT. The CapitaLand Ascott BT Group’s secured bank loan is secured on an investment property (Note 4) and a hotel (Note 5). Medium term notes On 9 September 2009, a subsidiary of the CapitaLand Ascott REIT Group, Ascott REIT MTN Pte. Ltd., launched a $1.0 billion Multi-currency Medium Term Note Programme (“MTN Programme”). On 9 July 2020, the MTN Programme was amended to add the REIT Trustee and the BT Trustee-Manager as issuers and perpetual securities was added as a security which may be issued by the REIT Trustee and the BT Trustee-Manager (“Amended MTN Programme”). The Amended MTN Programme limit was increased to $2.0 billion. Under this Amended MTN Programme, the Ascott REIT MTN Pte. Ltd., the REIT Trustee and BT Trustee-Manager may, subject to compliance with all relevant laws, regulations and directives, from time to time issue fixed or floating interest rate notes and perpetual securities with aggregate principal amounts of $2.0 billion. 201 Annual Report 2024
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