Singapore-listed ESR REIT has entered into a S$150 million ($108.75 million) unsecured loan facility with CIMB Bank Berhad, according to its filing with the SGX.
ESR REIT will use the debt proceeds for the refinancing existing debt, funding further acquisitions, enhancements, and improvement of its assets under its umbrella.
As of March 31, 2019, ESR-REIT’s portfolio comprises of 57 properties across Singapore, with a total gross floor area (GFA) of approximately 14.1 million square feet spread across business parks, industrial and logistics/warehouses.
The unsecured loan facility comprises a S$100 million term loan facility and a S$50 million revolving loan facility.
Units of ESR-REIT were last traded at S$0.54, up 0.5 Singapore cents, or 0.934 per cent on May 30.