The first is that the manager of the REIT and any of its affiliates ceases being the manager, and a replacement manager “reasonably acceptable to the lender” is not appointed on or prior to the date of cessation.
The second is that YTL Corporation ceases to own at least 51% of the issued share capital of the manager of Starhill Global REIT.
The level of facilities that may be affected is approximately $1,392.1 million (excluding interest) as at the date of this announcement.
Units in Starhill Global REIT closed flat at 48 cents on June 14.
