Starhill Global REIT has obtained a six-year unsecured sustainability-linked term loan facility of A$100 million ($83.42 million).
This facility will be used to refinance the REIT’s existing debts and or for general corporate funding requirements of the REIT.
Should the manager cease to be the manager of the REIT, and a replacement manager “reasonably acceptable to the lender” is not appointed on prior to the date of the cessation, or if YTL corporation ceases to own at least 51% of the issued share capital of the manger, Starhill Global REIT will have to repay all amounts owing under the agreement.
Units in Starhill Global REIT closed 0.5 cents lower or 0.917% down at 54 cents on Aug 15.
