Starhill Global Reit refinances RM330m senior MTNs
Funding comes from proceeds of new five-year secured and fixed-rate senior MTN
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STARHILL Global Real Estate Investment Trust (SGReit) has refinanced RM330 million (S$129.4 million) senior medium term notes (MTNs) at a lower interest cost.
This was funded largely by the proceeds from a new five-year secured and fixed-rate senior MTN, issued under Ara Bintang Berhad's existing asset-backed MTN programme of up to RM1.25 billion.
Ara Bintang Berhad is a special-purpose vehicle incorporated for the purpose of securitising SGReit's Malaysia properties. CIMB Investment Bank Berhad has been appointed as the lead manager for the issue of the new senior MTN.
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