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Lippo Malls Indonesia Retail Trust obtains unsecured loan facilities of up to S$350m

LIPPO Malls Indonesia Retail Trust has obtained unsecured term loan facilities of up to S$350 million, with an option to expand this by a further S$70 million through a greenshoe option.

The two separate loans of S$175 million each will be used for the acquisition of certain properties, the refinancing of the trust's existing debt obligations and other purposes that the trustee and its lenders may agree on.

The first loan has a tenor of 48 months, while the second lasts for 60 months.

The first drawdown of the facility is expected to occur on Aug 26.

The mandated lead arrangers and bookrunners for the facilities are BNP Paribas, CIMB Bank and JP Morgan Chase, while the Bank of East India and CTBC Bank were mandated lead arrangers.