HSBC Institutional Trust Services (Singapore), as trustee-manager of RCS Trust, have entered into unsecured loan facility agreements with various banks.
RCS Trust is an unlisted special purpose sub-trust which is 60% owned by CapitaLand Commercial Trust and 40% owned by CapitaLand Mall Trust.
RCS Trust owns Raffles City Singapore, an integrated development comprising Raffles City Tower (office), Raffles City Shopping Centre, two hotels and a convention centre.
The lenders will provide loan facilities of various maturities of up to six years for the purposes of refinancing RCS Trust’s existing borrowings of $1,066.3 million, due on June 21 2016 from Silver Oak, a special purpose vehicle incorporated in Singapore, in connection with the secured medium term note programme first established by Silver Oak on Sept 13 2006, a $200 million term loan facility as well as the amount outstanding under the $300 million revolving credit facility and RCS Trust’s future general corporate and working capital purposes.
With these unsecured bank facilities in place to refinance the RCS Trust borrowings due in June 2016, CCT and CMT have no other borrowings due in 2016.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
RCS Trust is an unlisted special purpose sub-trust which is 60% owned by CapitaLand Commercial Trust and 40% owned by CapitaLand Mall Trust.
RCS Trust owns Raffles City Singapore, an integrated development comprising Raffles City Tower (office), Raffles City Shopping Centre, two hotels and a convention centre.
The lenders will provide loan facilities of various maturities of up to six years for the purposes of refinancing RCS Trust’s existing borrowings of $1,066.3 million, due on June 21 2016 from Silver Oak, a special purpose vehicle incorporated in Singapore, in connection with the secured medium term note programme first established by Silver Oak on Sept 13 2006, a $200 million term loan facility as well as the amount outstanding under the $300 million revolving credit facility and RCS Trust’s future general corporate and working capital purposes.
With these unsecured bank facilities in place to refinance the RCS Trust borrowings due in June 2016, CCT and CMT have no other borrowings due in 2016.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment