AIMS APAC REIT (SGX:O5RU) obtained an advance tax ruling from the Inland Revenue Authority of Singapore for its SG$100 million worth of 4.25% subordinated perpetual bonds, according to a Friday filing with the Singapore Exchange.

Shares of the REIT were down almost 1% in Monday morning trade.

The bonds have been qualified as debt securities under the Income Tax Act, and distributions, including optional distributions, will be treated as interest payable on indebtedness.