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EC World REIT releases $2.1m from reserve to repay onshore interest

The REIT has fully repaired its onshore interest expenses due 20 September.

EC World REIT has tapped into the onshore interest reserve maintained under the onshore facilities of ECW Group to repay its onshore interest expenses due 20 September.

In a bourse filing, the REIT said it released RMB11.3m ($2.1m) from the reserve.

“As the onshore facilities do not specify the deadline by which the onshore interest reserve must be topped up, this timing is currently subject to ongoing discussions between the onshore lenders under the onshore facilities and the ECW Group,” the REIT said.
 

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