EC World Asset Management, the manager of EC World REIT BWCU , says in a June 6 bourse filing that its Zhejiang Fuzhou E-Commerce Co., Ltd. (FZDS) offshore borrowings have been refinanced in full.
This comes a day after the REIT manager announced that it had refinanced existing onshore bank loans in full.
"As such, the refinancing of the existing onshore bank loans and the existing offshore bank loans have been fully completed," says the REIT's manager on June 6.
On May 31, EC World REIT's manager announced its offshore facility and onshore facility had been extended.
The offshore facility agreement dated May 31, with various banks, coordinated by DBS Bank and United Overseas Bank, was up to $348.9 million, comprising of a multicurrency term loan facility of up to $321.9 million, a Singapore dollar term loan facility of up to $15.5 million and a multicurrency term loan facility of up to $12.5 million.
The onshore facility, also coordinated by DBS Bank China and UOB China, was for up to RMB745.5 million ($141.22 million), consisting of two term loan facilities of RMB702.0 million and RMB43.5 million.
See also: EC World REIT's manager announces extension of offshore and onshore loans
Units in EC World REIT closed flat at 33 cents on June 6.
