Notes to the Financial Statements Year ended 31 December 2024 16 FINANCIAL LIABILITIES (continued) Currency Nominal interest rate Year of maturity Face value (1) Carrying amount % $’000 $’000 Stapled Group 2023 Medium term notes EUR 2.75 2024 117,188 117,123 Medium term notes JPY 0.97 2025 46,650 46,645 Medium term notes SGD 4.00 – 5.00 2024 – 2028 505,000 504,097 Secured fixed rate loans JPY 0.25 – 1.39 2024 – 2029 414,093 410,916 Secured fixed rate loans USD 2.70 – 2.90 2028 108,440 107,846 Secured floating rate loans EUR 5.22 2028 51,270 50,720 Secured floating rate loans JPY 0.17 – 1.02 2024 – 2029 95,278 94,715 Secured floating rate loans RMB 4.45 – 4.70 2026 – 2032 15,933 15,917 Secured floating rate loans USD 7.18 – 8.16 2024 – 2032 426,441 425,118 Sustainability-linked notes JPY 1.05 2029 153,945 153,812 Sustainability-linked notes SGD 3.63 2027 200,000 199,559 Unsecured fixed rate loans KRW 3.55 2024 33,248 33,240 Unsecured fixed rate loans USD 1.00 2025 91 91 Unsecured floating rate loans EUR 4.98 – 5.28 2024 – 2027 161,866 161,434 Unsecured floating rate loans GBP 6.20 – 6.84 2024 – 2028 307,567 305,542 Unsecured floating rate loans JPY 1.31 2024 10,263 10,246 Unsecured floating rate loans SGD 4.65 – 5.28 2024 – 2028 152,454 151,974 Unsecured floating rate loans USD 6.63 – 8.15 2025 – 2029 260,701 259,366 3,060,428 3,048,361 (1) Excluding unamortised transaction costs Guarantees The CapitaLand Ascott REIT Group has provided corporate guarantees to banks amounting to $511,550,000 (2023: $558,279,000) for bank loans undertaken by its subsidiaries which expire in 2025, 2026, 2028, 2029, 2030 and 2032 (2023: 2025, 2026, 2028, 2029 and 2032). The CapitaLand Ascott BT Group has provided corporate guarantees to banks amounting to $30,340,000 (2023: $33,248,000) for unsecured bank loans undertaken by its subsidiaries which expire in 2027 (2023: 2024). The earliest period that the guarantees could be called is within one year (2023: one year) from the reporting date. At the reporting date, the CapitaLand Ascott REIT Group and the CapitaLand Ascott BT Group do not consider it probable that a claim will be made under these guarantees. Loan covenant As at 31 December 2024, the Stapled Group has complied with all debt covenants. 206 CapitaLand Ascott Trust
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