ARA-CWT takes prudent path in capital, risk management

WE refer to the article "S-Reits' performance recovers on expected rate hike delay" (BT, Dec 1).

ARA-CWT Trust Management (Cache) Limited, as manager of Cache Logistics Trust ("Manager"), would like to update the media and the investment community on our proactive capital management efforts which were not reflected in the article.

On Oct 23, 2014, Cache entered into a new facility agreement by way of a club loan arrangement to refinance what was Cache's S$375 million loan facilities. The new S$400 million facility agreement includes a four-year term loan of S$185 million, a five-year term loan of S$150 million and a four-year revolving credit facility of S$65 million.