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S$180m term loan facility granted to LMIR Trust

LIPPO Malls Indonesia Retail Trust (LMIR Trust) will receive a S$180 million term loan facility from the Singapore branches of BNP Paribas, CIMB Bank and Standard Chartered Bank.

The proceeds will go towards LMIR Trust's working capital and general corporate funding purposes, including investments and acquisitions.

The facility will bear an interest margin of 3 per cent per annum over the relevant Singapore dollar swap offer rate.

The first drawdown is expected to occur by the end of this year.

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