SPH Reit establishes five-year loan of $85m

The loan is a result of an arrangement with DBS Trustee Limited.

According to a news release, SPH REIT has secured a five-year loan worth $85m.

Proceeds from this loan will go to the refinancing of an existing loan.

This loan comes as a result of an earlier facility agreement with DBS Trustee Limited worth $975m. The agreement also contains two provisions, namely, that Singapore Press Holdings indirectly owns at least 30% of the units of SPH REIT, and that SPH REIT Management Pte. Ltd. owns 100% of SPH REIT.