Manulife US REIT (SGX:BTOU) secured extensions of key covenant relief and deadline extensions from its lenders to June 30, 2026, according to a Wednesday filing with the Singapore Exchange.
The concessions under the master restructuring agreement require the trust to maintain its interest reserves and keep distributions suspended, with unencumbered gearing not more than 80% and a lower minimum bank interest coverage ratio of 1.5 times through Dec. 31, 2026.
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