The proceeds from the facility are intended to be used for the refinancing of the existing debt
obligations of PAL, such as the prepayment or repayment of a term loan facility of up to $67.5
million under an existing $135 million term loan facility made available to PAL in 2018.
The drawdown of the Facility is expected to occur on or around Oct 28 with a repayment date of Nov 9 2023.
Shares in LMIR Trust traded flat at 3 cents on Oct 21.
