CLINT manager secures $50m sustainability-linked loan
It secured the loan from the Bank of East Asia
CapitaLand India Trust Management (CLINTMPL), the trustee-manager of CapitaLand India Trust (CLINT), has secured a $50m sustainability-linked term loan from the Bank of East Asia Singapore.
If CLINTMPL fails to make payments due under this loan, it could trigger cross defaults on other loans and borrowings of CLINT and its subsidiaries, totalling $1.6b.
Additionally, an event of default would occur if CapitaLand Investment Limited (CLI) ceases to own at least 51% of CLINTMPL or if CLINT is terminated according to the Trust Deed.