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Tuesday, July 27, 2010

Starhill Global REIT gets RM$1.2bil loans

SINGAPORE: Starhill Global Real Estate Investment Trust, a Singapore-based investor in retail and office buildings, got S$496mil (RM1.16bil) of three-year loans from five banks, according to a Singapore stock exchange statement.

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

The proceeds would be used to refinance S$447mil 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.

By Bloomberg

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