Suntec REIT secures S$400m to refinance its bridging loans

Suntec REIT secures S$400m to refinance its bridging loans

 

SINGAPORE: Suntec REIT has secured a S$400 million loan to refinance its bridging loans.

 

It will be carried out through an unsecured club loan facility from a panel of banks.

 

The facility is for a period of three years.

 

The loan will help Suntec refinance an outstanding loan after its acquisition of one third of the One Raffles Quay building in the central business district.

 

With this new deal, Suntec REIT will not need additional refinancing until financial year 2009. – CNA/vm

 

Source: Channel NewsAsia