According to the manager, the proceeds of the term loan facility will go towards general corporate funding purposes, including but not limited to refinancing of existing indebtedness, funding asset acquisitions and general working capital purposes.
Additionally, the manager adds that the REIT’s trustee has also entered into a JPY15.5 billion ($136 million) unsecured term loan facility agreement (JPY facility).
Malayan Banking Berhad, Singapore branch and Mizuho Bank have been appointed as the lead arranger, bookrunners and the original lenders of the term loan facility. Mizuho bank has also been appointed as the facility agent.
The proceeds of the JPY facility are expected to be applied towards general corporate funding purposes, which include partially financing the acquisition of ESR Yatomi Kisosaki Distribution Centre in Nagoya, general working capital purposes and payment of fees in relation to the JPY facility.
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Both term loan facilities are set to be terminated 48 months from the first utilisation date.
Shares in ESR-LOGOS REIT closed flat at 29.5 cents on Oct 17.
