Dasin Retail Trust has been granted a three-month extension by its lenders with regards to loans that were due in December 2021.
The trust also requested for a trading halt from the Singapore Exchange (SGX) early on 20 December before making this disclosure in the later part of the day.
Related: Dasin Retail Trust explains missed distribution payment date
Dasin Retail Trust has term onshore and offshore term loan facilities, of which about SGD500.8 million was due on 19 December 2021.
As late as October 2021, the trust informed the SGX that it was still negotiating with its lenders with regards to this loan and “nothing material has developed since 16 August 2021”.
In a disclosure filed with the SGX, Dasin Retail Trust said that the lenders of both the onshore and offshore facilities have granted an extension of 3 months from 20 December 2021.
The extension has been granted to allow the lenders more time to discuss new requests made by minority lenders, the trust said.
“The trustee-manager hopes to see a successful conclusion to the refinancing exercise soon and will make appropriate announcements in the event of any further material developments”, the trust added.
Dasin Retail Trust was last done on the SGX at SGD0.37 prior to the trading halt.