Annual Report 2025 201 Currency Nominal interest rate % Year of maturity Face value(1) $’000 Carrying amount $’000 Stapled Group 2024 Medium term notes JPY 0.97 2025 43,480 43,478 Medium term notes SGD 3.69 – 5.00 2026 – 2029 505,000 504,155 Secured fixed rate loans JPY 0.25 – 1.39 2026 – 2029 295,290 293,253 Secured fixed rate loans USD 2.70 – 5.06 2028 – 2031 188,284 187,467 Secured floating rate loans EUR 4.84 2028 49,512 49,086 Secured floating rate loans JPY 0.33 – 1.26 2026 – 2029 158,215 156,965 Secured floating rate loans RMB 4.10 – 4.35 2026 – 2032 14,376 14,364 Secured floating rate loans USD 7.04 – 7.52 2025 – 2032 304,368 303,588 Sustainability-linked notes JPY 1.05 2029 143,484 143,373 Sustainability-linked notes SGD 3.63 2027 200,000 199,693 Unsecured fixed rate loans KRW 4.98 2027 30,720 30,592 Unsecured fixed rate loans USD 1.00 2025 23 23 Unsecured floating rate loans EUR 3.68 – 4.73 2026 – 2028 174,001 173,427 Unsecured floating rate loans GBP 6.12 – 6.59 2027 – 2028 310,699 309,000 Unsecured floating rate loans JPY 0.86 2025 1,304 1,304 Unsecured floating rate loans SGD 3.73 – 5.14 2025 – 2030 584,893 582,176 Unsecured floating rate loans USD 5.29 – 7.02 2025 – 2029 182,513 181,575 3,186,162 3,173,519 (1) Excluding unamortised transaction costs Guarantees The CapitaLand Ascott REIT Group has provided corporate guarantees to banks amounting to $464,233,000 (2024: $511,550,000) for bank loans undertaken by its subsidiaries which expire in 2026, 2028, 2029, 2030 and 2032 (2024: 2025, 2026, 2028, 2029, 2030 and 2032). The CapitaLand Ascott BT Group has provided corporate guarantees to banks amounting to $28,222,000 (2024: $30,340,000) for unsecured bank loans undertaken by its subsidiaries which expire in 2027 (2024: 2027). The earliest period that the guarantees could be called is within one year (2024: 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 2025, the Stapled Group has complied with all debt covenants. Sensitivity analysis The impact to the interest coverage ratio for the trailing 12-month period ended 31 December 2025 under the following scenarios are: Stapled Group 2025 10% decrease in the earnings before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties and foreign exchange translation) 2.7 100 basis point increase in the weighted average interest rate 2.4 16 Financial Liabilities (continued)
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