Starhill Global REIT secures $83.59m sustainability-linked loan

 It will be used to refinance existing debts and for general funding.

Starhill Global REIT has entered into a facility agreement with a bank for a six-year unsecured sustainability-linked term loan of $83.59m (A$100m).

The facility will be used to refinance Starhill Global REIT’s existing debts and for general corporate funding requirements.

In its bourse filing, Starhill Global REIT said that following the refinancing, the transaction “is not expected to have a material impact on the gearing of the group.”

The bourse filing also said that should the manager of the REIT or any of its affiliates cease to be the manager of Starhill Global REIT and a replacement manager “reasonably acceptable to the lender” is not appointed on or before the date of such cessation or if YTL Corporation Berhad ceases at any time to own at least 51% of the issued share capital of the manager, Starhill Global REIT is required to repay all amounts owing under the facility agreement.

$1 = A$1.2