Cromwell EREIT (SGX:CWBU) through its subsidiary, Cromwell EREIT Lux Finco, entered into a new debt facility agreement with several European banks for an aggregate amount of 340.0 million Euros, according to a filing with the Singapore Exchange on Friday.
The facility has a one year term with a one-year extension and a further one-year extension, subject to lender approval.
The facility will allow the REIT with sufficient flexibility to repay its outstanding 450 million euros worth of 2.125% bonds due Nov. 2025.
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