Lippo Malls Puri is currently owned by a subsidiary of Lippo Malls Indonesia Retail Trust's sponsor. (Photo: Lippo Malls Indonesia Retail Trust)

Days after confirming that it will not be redeeming the perpetual securities due this September, Lippo Malls Indonesia Retail Trust (LMIRT) disclosed that it has taken on a new loan facility.

Related: Citing debt concerns, Lippo Malls REIT skips redemption of SGD140 million perpetuals

The REIT announced on 18 August that it has obtained a committed SGD30 million revolving loan facility from Barclays Bank PLC.

Proceeds from the loan will be used for working capital requirements, or repayment of any existing financial indebtedness, said the REIT.

LMIRT was last done on the Singapore Exchange at SGD0.062, which currently implies a distribution yield of 5.81% according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.