An event of default would occur under the facility agreement under two conditions. The first is if CapitaLand Investment does not own or ceases to own, directly or indirectly through its wholly-owned subsidiaries, at least 51% of the issued and paid-up capital of the management of CLINT.
The trustee-manager of CapitaLand India Trust (SGX:CY6U
) (CLINT) has entered into a $50 million sustainability-linked term loan facility agreement with the Bank of East Asia, Singapore branch on Sept 24.
It was not specified in the announcement what the loan agreement would finance.
