Lendlease Global Commercial Trust Management (LREIT) has entered into a facility agreement worth $50 million and accepted an offer for an uncommitted revolving credit facility worth up to $100 million.
These two facilities may be applied towards general corporate purposes and/or bridge financing of LREIT and its subsidiaries.
The facility agreement and facility letter contains conditions in which if unmet, may affect the aggregate amount of facilities under LREIT which is up to $1,709.8 million.
This includes if the sponsor ceases to be at any time a 51% owner of LREIT, among others.
Units in LREIT closed flat at 60 cents on Dec 11.
