The refinancing was completed with the issuing of new five-year RM500 million fourth senior medium terms notes, which have an expected maturity in September 2029 and a legal maturity in March 2031.
YTL Starhill Global REIT (SGX:P40U
) Management, the manager of Starhill Global Real Estate Investment Trust (Starhill Global REIT) has refinanced the five-year RM330 million ($100.1 million) third senior medium term notes that it previously issued.
The REIT is doing so through Ara Bintang, a Malaysia-incorporate bankruptcy remote special purpose vehicle. A special purpose vehicle is a subsidiary created by a parent company to isolate financial risk.
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