The trustees of OUE Commercial REIT and OUE Hospitality Sub-Trust, DBS Trustee and RBC Investor Services Trust Singapore, have exercised the greenshoe option on the facility agreement dated Dec 14, 2020.

The option will see the REIT upsize its multi-tranche senior secured facilities to $978 million from $900 million.

SEE:'Hold' OUE Commercial REIT on mixed performance, divestment: analysts

The upsized facilities will be used to refinance existing borrowings and, or used for general working capital purposes.

Units in OUE Commercial REIT closed 0.5 cent lower or 1.3% down at 39 cents on March 23.