Singapore-listed industrial stapled security Viva Industrial Trust (SGX:T8B) announced on 1 February that it has entered into a facility agreement for the grant of senior secured transferable loan facilities of up to SGD330 million.
The facility agreement was entered into with Standard Chartered Bank and BNP Paribas as lead arrangers and bookrunners, and RHB Bank Singapore, The Bank of East Asia Limited, Singapore Branch and United Overseas Bank Limited, as mandated lead arrangers.
The facilities comprise of two Singapore dollar term loan facility of SGD140 million and a Singapore dollar revolving credit facility of SGD50 million. The facilities are secured over its properties UE BizHub East, Viva Business Park and 81 Tuas Bay Drive.
According to the trust, the term loan facilities will be used to fully refinance the loans outstanding under a SGD315 million term loan and revolving credit facility granted in October 2013 while the revolving credit credit facility will be used to finance its capital expenditure, investments and acquisitions.
Utilisation of the term loan facilities is expected to take place on or about 11 February 2016, said the trust in its statement on 1 February.
Units of Viva Industrial Trust last changed hands on the Singapore Exchange at SGD0.70.