Tiger Brokers

Suntec REIT amends loan facilities to add default trigger affecting SGD 4.16 billion

Reuters
4 hours ago
<a href="https://laohu8.com/S/T82U.SI">Suntec REIT</a> amends loan facilities to add default trigger affecting SGD 4.16 billion

Suntec REIT said loan facilities provided by various banks and financial institutions to its trustee and/or subsidiaries were amended following the acquisition of its manager by Acrophyte Asset Management. The amended terms add an event-of-default or review condition tied to the manager remaining an Acrophyte subsidiary and the Sponsor Group retaining at least 51% of Acrophyte and the manager. Facilities potentially affected by a breach total about SGD 4.16 billion. As of the announcement date, about SGD 4.08 billion of these facilities was drawn and outstanding.

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