“The Trustee-Manager has been working closely with the Lenders for the refinancing exercise and exploring potential proposals including but not limited to the disposal of the certain trust assets, partnership with strategic investors, and alternative fund raising activities. The Trustee-Manager hopes to see a successful conclusion to the refinancing exercise soon,” Dasin’s manager said.
On the morning of June 22, brokers reported that 50 million units of Dasin Retail Trust changed hands at 34.5 cents, a significant 7.8% premium over its unit price of 32 cents as at June 21. On Monday June 20, Dasin Retail Trust closed at 30 cents. The trust has 794 million units in issue, so the 50 million tranche represents almost 6.3% of outstanding units.
On June 20, Dasin’s manager announced that it managed to extend a $499.52 million loan that matured on June 19, to Dec 31, 2022. The loan is a combination of onshore and offshore facilities for Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour (the IPO portfolio) and Shiqi Metro Mall.
