Keppel Pacific Oak REIT secures $48.04m refinancing loan
Manager or ownership changes may risk $1.1b in company assets.
Keppel Pacific Oak US REIT secured a $48.04m (USD37.5m) loan through its limited trustee Perpetual (Asia) Limited to address its refinancing requirements for 2026.
The loan was obtained under a facility agreement dated 6 January 2026.
Following the facility, the REIT’s refinancing needs for the year have largely been met, subject to no material adverse developments, according to a press statement.
The facility includes mandatory prepayment clauses that could be triggered by changes to the REIT’s manager, ownership of the manager, or a reduction in the unitholding interest of its controlling unitholder.
If triggered, the borrower would be required to repay outstanding loans within 10 business days.
As at the date of the announcement, no such event has occurred. The REIT added that approximately $1.1b (USD857.5m) in facilities could be affected should such events materialise.
1 SGD = 0.78 USD