Home THE DAILY EDGE Business Starhill Global REIT gets $496m of loans: Update
Starhill Global REIT gets $496m of loans: Update

Tags: Starhill Global | Starhill Global Reit

Written by Bloomberg   
Monday, 26 July 2010 21:15
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Starhill Global Real Estate Investment Trust, a Singapore-based investor in retail and office buildings, got $496 million of three-year loans from five banks, according to a Singapore stock exchange statement.

DBS Holdings, Oversea-Chinese Banking Corp., Commonwealth Bank of Australia, Societe Generale and ING Groep NV provided the loans, which include a $50 million revolving credit facility, according to the statement.

Proceeds will be used to refinance $447 million of maturing debt while the balance will be made available for working capital and general corporate funding purposes.

In a revolving credit facility, money can be borrowed again once it’s repaid.

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Last Updated on Monday, 26 July 2010 21:16