STARHILL Global Real Estate Investment Trust (SGReit) has refinanced RM330 million (S$129.4 million) senior medium term notes (MTNs) at a lower interest cost.

This was funded largely by the proceeds from a new five-year secured and fixed-rate senior MTN, issued under Ara Bintang Berhad's existing asset-backed MTN programme of up to RM1.25 billion.

Ara Bintang Berhad is a special-purpose vehicle incorporated for the purpose of securitising SGReit's Malaysia properties. CIMB Investment Bank Berhad has been appointed as the lead manager for the issue of the new senior MTN.