Corporate digest

IReit Global

THE manager of IReit Global has appointed Louis d'Estienne d'Orves as its new chief executive officer (CEO) with effect from Thursday. Mr d'Estienne d'Orves is part of IReit unitholder Tikehau Capital's real estate team. He will be based in London, which will allow him to have direct access to the European real estate market as well as leverage Tikehau's local expertise and network as he plans and implements IReit's investment strategy.

Tikehau recently raised its stake in IReit to 29.2 per cent from 16.64 per cent, while Singapore's City Developments Limited increased its unitholding interest to 20.87 per cent from 12.52 per cent. That brings their combined stakes to over 50 per cent.

The manager's previous CEO, Aymeric Thibord, quit in February this year to pursue other opportunities.

The real estate investment trust has a portfolio of nine office assets in Germany and Spain valued at about 630 million euros (S$967.5 million) as at end-2019.

Singtel

SINGTEL announced on Friday evening that its units have entered agreements for total credit facilities of S$4.17 billion, for general corporate purposes and refinancing.

In Singapore, Singtel Group Treasury signed an agreement for a three-year S$2.5 billion committed revolving credit facility with 13 banks, including the three local banks. It also inked agreements for one-year committed facilities totalling S$950 million with a group of banks, which it did not specify. These facilities are guaranteed by Singtel. In Australia, Optus Finance Pty Ltd - a subsidiary of Singtel Optus Pty Limited (Optus) - entered into 364-day committed facilities totalling A$800 million with a group of banks. The facilities are guaranteed by Optus and some of its subsidiaries.

Sats

GROUND handler and in-flight catering provider Sats said on Friday that it has issued S$100 million in 2.6 per cent notes due 2025 under its S$500 million multicurrency medium-term note programme. In-principle approval has been received for the listing and quotation of the notes, with listing expected on April 27. Sats had earlier said that net proceeds from the issue will be used for general corporate purposes; investing in value-creating opportunities, including long-term strategic investments and acquisitions; and refinancing borrowings.