Soilbuild Business Space Reit gets S$200m credit facility, to refinance debts
THE manager of Soilbuild Business Space REIT has entered into a S$200 million secured facility agreement with OCBC Bank and RHB.
The Singapore-listed Reit said after Thursday trading hours, the facility will be partially utilised to refinance an existing S$185 million secured loan in October 2017 with a balance of S$15 million available for drawdown over the next one year for general corporate funding purposes.
The facility has a term of 4.5 years. Assuming the refinancing is completed as of Thursday, the weighted average debt maturity of Soilbuild Reit would have increased from 2.1 years to 2.9 years.
Post-refinancing, Solaris remains the single encumbered property in Soilbuild Reit's portfolio.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines