ESR-LOGOS trustee enters $68.5m loan facility

It will mature 48 months from the utilisation date.

RBC Investor Services Trust Singapore, a trustee of ESR-LOGOS REIT, entered a $68.5m (JPY7.1b) unsecured loan facility which will partially fund the equity portion of its acquisition.

In a disclosure, ESR-LOGOS added that the loan facility will also finance other acquisition and/or transaction-related costs and the general working capital purposes of RBC.

MUFG Bank and Sumitomo Mitsui Banking Corporation Singapore Branch will serve as the original lenders. The final maturity date for the loan will be 48 months from the utilisation date.

If the ESR-LOGOS manager, ESR-LOGOS Funds Management, resigns or is removed, or ESR Group ceases to hold at least 50.1% of the issued share capital of the manager, both without prior consent in writing of the majority lenders, Facility Agent Smitomo Mitusui Singapore Branch can review the term of the Facility Agreement.

$1 = JPY103.60