Singapore listed, Indonesia-focused retail REIT, Lippo Malls Indonesia Retail Trust (SGX:D5IU), announced on 30 December that it has obtained an SGD100 million term loan facility.

The facility was obtained through its wholly-owned subsidiary, LMIRT Capital Pte Ltd with the Singapore branches of BNP Paribas, Standard Chartered Bank and Qatar National Bank SAQ.

The banks will provide a term loan facility up to an aggregate amount of SGD100 million to LMIRT Capital for a tenor of 36 months at an interest margin of 2% per annum over the relevant swap rate. The facility is guaranteed by HSBC Institutional Trust Services acting in its capacity as trustee of the REIT.

Proceeds from the facility are intended to be used to refinance outstanding amounts under a separate SGD200 million term loan facility established earlier. Drawdown of the new SGD100 million facility is expected to occur on or about 4 January 2016, said the REIT.

Units of Lippo Malls Indonesia Retail Trust are currently listed on the Singapore Exchange at SGD0.32.