Lippo Malls Indo Retail Trust (LMIR Trust) has announced that it has obtained a bridging loan facility of up to $67.5 million.
In its capacity as trustee of LMIR Trust, Perpetual Asia Limited (PAL) has entered into a facility agreement with lenders including BNP Paribas and CIMB Bank Berhad’s Singapore branch, under which PAL will be provided a bridging loan facility of up to $67.5 million.
The proceeds from the facility are intended to be used for the refinancing of the existing debt
obligations of PAL, such as the prepayment or repayment of a term loan facility of up to $67.5
million under an existing $135 million term loan facility made available to PAL in 2018.
The drawdown of the Facility is expected to occur on or around Oct 28 with a repayment date of Nov 9 2023.
Shares in LMIR Trust traded flat at 3 cents on Oct 21.
