Suntec Real Estate Investment Trust (SGX:T82U) said its subsidiaries have signed loan agreements totaling AU$398.5 million to refinance debt and fund working capital, according to a Thursday filing on the Singapore Exchange.
The agreements include a AU$280.3 million syndicated loan and a AU$118.3 million bilateral facility, replacing a 2020 syndicated loan for its Australian assets.
The loans include clauses that could trigger a review event if Suntec REIT's manager ceases to be a subsidiary of ESR Asset Management or if a new manager is not affiliated with ESR. About SG$4.2 billion in outstanding debt could be affected by such a breach.
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