- Prime US REIT announced that it is in the final documentation stages of its major loan refinancing with a positive outcome expected by end August.
- A successful refinancing, along with recent asset divestment and likelihood of interest rate cuts, puts Prime US REIT well back on a recovery path after navigating the challenging market conditions of the last three years.
- - Read this at SGinvestors.io -
In the final stages of refinancing
- Prime US REIT (SGX:OXMU) is in the final legal documentation stages of refinancing its US$600m loan, with three of four lenders in the latter syndicated loan agreeing to close – the last has requested for additional time to finalise internal documentation. In this regard, all four agreed to amend the maturity date of the current facility to 19 Aug (from Jul 2024) to facilitate this request.
- - Read this at SGinvestors.io -
- We have assumed overall financing costs for FY24 to be at ~5% (FY23: 4%), increasing to ~5.5% for FY25F-26F.
Tail-end of asset devaluation cycle, positive divestment of One Town Center.
- Read more at SGinvestors.io.
