Rowsley inks S$130m credit facility agreement

ROWSLEY Ltd said it has entered into a facility agreement for S$130 million of new credit facilities.

These comprise a S$100 million 18-month term loan facility and a S$30 million revolving loan facility with Malayan Banking Berhad, Singapore Branch.

The term loan will be used to redeem the S$100 million 6.5 per cent notes due on Tuesday, which was issued by the company under its S$500 million multi-currency medium-term note programme established in 2014. Following the redemption and cancellation of the notes on such due date, there will be no outstanding notes.

The revolving loan facility will be used to fund working capital requirements, business expansion, acquisition and any other investments related to the healthcare industry, the real estate industry and the hospitality industry, Rowsley said on Monday.