Stocks to watch: Sabana Reit, Cromwell E-Reit, LMIRT, Global Dragon
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 9):
Sabana Industrial Real Estate Investment Trust (Sabana Reit): Its substantial shareholder’s voluntary conditional cash partial offer to acquire an additional 10 per cent of the Reit has been declared unconditional in all respects. Together with valid acceptances of the offer, Swiss group Volare will own 21.6 per cent of the Reit. Units of Sabana Reit closed S$0.005 or 1.2 per cent lower at S$0.42 on Wednesday, before the announcement.
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Its subsidiary has restated a term loan facility by rolling over existing loans initially maturing in November 2023, while also obtaining new lender commitments for some 70.6 million euros (S$100.8 million). As a result, the Reit will have no near-term refinancing risk with the nearest debt maturity at the end of 2024, according to the manager’s chief financial officer on Thursday. Units of the Reit ended Thursday 0.05 euro cent or 3 per cent lower at 1.62 euros.
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