The manager of Fortune REIT, ARA Asset Management (Fortune) Limited, says the REIT has obtained new banking facilities.
Fortune Reit has entered into two five-year term loan facility agreements of an aggregate principal amount of HK$3.2 billion ($580 million), comprising a HK$2 billion secured term loan and HK$1.2 billion unsecured loan.
The new facilities bear a blended interest margin of 1.2% a year over the Hong Kong Interbank Offer Rate and will mature and become payable on Dec 22, 2020.
The new facilities will be used to refinance existing debt and also for other general corporate purposes. They will be drawn in March 2016.
Fortune Reit last traded at HK$7.63.
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Fortune Reit has entered into two five-year term loan facility agreements of an aggregate principal amount of HK$3.2 billion ($580 million), comprising a HK$2 billion secured term loan and HK$1.2 billion unsecured loan.
The new facilities bear a blended interest margin of 1.2% a year over the Hong Kong Interbank Offer Rate and will mature and become payable on Dec 22, 2020.
The new facilities will be used to refinance existing debt and also for other general corporate purposes. They will be drawn in March 2016.
Fortune Reit last traded at HK$7.63.
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
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