This means Far East Hospitality REIT can now fix its interest rate for the loan during the duration of the swap.
OCBC Bank has closed a sustainability-linked interest rate swap with Far East Hospitality REIT on June 9.
The 2.5-year, $85 million structured derivative transaction aims to provide a hedge against interest rate risk related to Far East Hospitality REIT’s sustainability-linked loan facility, which was secured from OCBC Bank in March.
