Keppel Pacific Oak US REIT bags US$50m loan facility

The loan facility was obtained through its trustee, Perpetual (Asia) Limited.

Keppel Pacific Oak US REIT’s (KORE) manager announced that its trustee, Perpetual (Asia) Limited, has secured a US$50m loan facility.

Under the terms of the facility agreement, a mandatory prepayment event may occur if the manager of KORE ceases to hold the position. In such a case, the trustee must repay all outstanding loans, along with accrued interest, within 10 business days.

In addition, if any prepayment event occurs, the aggregate level of utilised and unutilised facilities that may be affected is approximately $1.06b (US$790m).