Sasseur REIT bags $90.8m loan to refinance offshore debt
The loan was sponsored by a subsidiary of its controlling unitholder.
Sasseur REIT has entered into a five-year unsecured loan agreement of up to $90.8m (RMB508m).
The loan facility was sponsored by Sasseur Cayman Holding II Ltd., a wholly-owned subsidiary of controlling unitholder Sasseur Cayman Holding Ltd.
Sasseur REIT has the option to make a minimum voluntary prepayment of $9m (RMB50m) and in higher multiples of $1.8m (RMB10m), subject to prior written notice of at least five business days to the lender.
Proceeds from the loan will be used, amongst other purposes, to partially prepay existing offshore bank loans due in March 2026.