Singapore-listed industrial REIT, Cambridge Industrial Trust (SGX:J91U), announced on 10 June that it has refinanced a SGD250 million club loan using proceeds from a medium term note issuance and a new SGD150 million unsecured bilateral loan facility.

“This refinancing is the latest step in our prudent capital management strategy. As a result, we have no major refinancing requirements until FY2017”, said Philip Levinson, CEO of the REIT’s manager.

As a result of the Refinancing, Cambridge Industrial Trust’s weighted average debt expiry has lengthened to 3.8 years while the all-in cost of debt stands at approximately 3.69% per annum with 96.5% of the interest rate exposure fixed for the next 3.7 years.

The REIT’s unencumbered assets are now in excess of SGD1.1 billion, representing close to 80% of investment properties by value, said the REIT.

Units of Cambridge Industrial Trust last changed hands on the Singapore Exchange at SGD0.86.