The manager of Starhill Global REIT P40U has announced that HSBC Institutional Trust Services Singapore, in its capacity as trustee of Starhill Global REIT, has entered into a facility agreement with DBS Bank for a five-year unsecured sustainability-linked multicurrency revolving credit facility of $50 million on Nov 21.
The new agreement will replace its existing revolving credit facility with DBS Bank for the same amount expiring in June 2024.
The facility is the first sustainability-linked facility granted to Starhill Global REIT and will be available for drawing from January next year.
The facility will be used to finance the REIT’s general corporate funding requirements including capital expenditure to attain green certification for its portfolio of properties.
The agreement is not expected to have a material impact on the gearing of Starhill Global REIT.
Units in Starhill Global REIT closed 1 cent or 2.02% down at 48.5 cents on Nov 21.
