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.