OUE REIT secures $100m loan for capital spending

The funds target working capital and loan refinancing.

DBS Trustee Limited, acting for OUE Real Estate Investment Trust (OUE REIT) has secured a $100m loan to support capital expenditure in the future.

The $100m will be used for working capital, refinancing existing loans, paying the costs and fees incurred in conjunction with the loan and general corporate purposes.

The deal is pursuant to OUE Limited maintaining control of at least 51% of the shares of OUE REIT.

Should the loan default, the total borrowings that may be affected will approximately be $2.3m.

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