ESR-Reit enters into S$200m unsecured loan facility

ESR-REIT has entered into a S$200 million unsecured loan facility agreement comprising a S$150 million term-loan facility and a S$50 million revolving-loan facility, the real estate investment trust's (Reit) manager said on Friday.

Proceeds from the facilities will be used for general corporate funding purposes, including refinancing of existing indebtedness, funding further asset acquisitions, enhancements and improvement of assets as well as other general working capital purposes.

The facilities' final maturity date will be 48 months from Feb 28, the date of the facility agreement.

MUFG Bank and Sumitomo Mitsui Banking Corporation Singapore Branch are the original lenders, mandated lead arrangers and bookrunners for the loan facility. Sumitomo Mitsui Banking Corporation Singapore Branch is the facility agent.

ESR-Reit units closed down 1.5 Singapore cents or 2.8 per cent to 53 cents on Friday before the announcement.