The manager of Starhill Global REIT P40U has entered into a facility agreement with an unnamed bank for a five-and-a-half-year unsecured term loan facility of $75 million.
The facility will be used to refinance part of the existing $125 million unsecured medium-term notes guaranteed by the trustee of the REIT upon its maturity in May 2023.
The transaction is not expected to have a material impact on the gearing of Starhill Global REIT following the refinancing.
Units in Starhill Global REIT closed flat at 54 cents on Feb 17.
