CIT inks $100m unsecured loan with HSBC

It is composed of two loan facilities.

Singapore-listed Cambridge Industrial Trust Management Ltd. (CIT) has entered a $100 million unsecured loan facility with HSBC.

CIT announced that it had signed the loan through its trustee RBC Investor Services Trust Singapore
Ltd.

In a statement, the group noted that the loan consists of a $25 million term loan facility and a S$75 million revolving loan facility.

CIt said the term loan facility will be drawn to refinance the existing facility granted by National Australia Bank Ltd - Singapore Branch (NAB).

Meanwhile, the revolving loan facility is for the financing of the group's general working capital requirements. Some of the proceeds disbursed under this loan will be used to repay remaining balance of the NAB facility.

The set final maturity date of the said loans is on June 19, 2021.