The 5-year unsecured facility agreement is for term and revolving credit facilities, of S$300 million each
[SINGAPORE] Starhill Global Real Estate Investment Trust’s (Reit) manager on Friday (Mar 21) said that the Reit has obtained a S$600 million loan from “a club of banks”.
The five-year unsecured facility agreement is for sustainability-linked term facilities of S$300 million, as well as sustainability-linked revolving credit facilities of S$300 million.
The term facilities are intended to be used to refinance the S$100 million unsecured medium-term notes maturing in June, as well as the Reit’s unsecured term loans in September ahead of their maturities in 2026 and 2027, said the manager in a bourse filing.
It added that this is part of its “proactive capital management strategy”.
The revolving credit facilities will be available for working capital requirements and general corporate funding purposes of the Reit, of which a committed portion of S$200 million will replace the S$200 million committed existing revolving credit facilities expiring on Feb 16, 2026, added the manager.
The use of these term facilities and the refinancing are expected to take place from June to September.
The manager added that with the refinancing, the transaction is not expected to have a material impact on the gearing of the Reit.
Units of Starhill Global Reit rose S$0.005, or 1 per cent, to close at S$0.505 on Friday.
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