Narrative
Full Description
Project narrative
On September 10, 2020, a syndicate of 6 banks signed a syndicated term loan agreement in the aggregate amount of SGD 214 million and USD 20 million as well as a revolving credit facility worth SGD 8 million to Sasseur Real Estate Investment Trust, a Singapore-based real estate investment trust. This was an amendment and restart to a facility agreement originally dated March 19, 2018. The facilities were set to mature on March 27, 2023. Subsidiaries of Sasseur REIT incorporated in Singapore, BVI and Hong Kong, served as guarantors. Record ID#102340 captures China CITIC Bank International Limited's contribution to the USD 20 million term loan. Hang Seng Bank Limited; China CITIC Bank International Limited, Singapore Branch; Bank of China Limited, Singapore Branch; DBS Bank Ltd.; Malayan Banking Berhad, Singapore Branch; and Agricultural Bank of China Limited, Singapore Branch all served as lenders.
Staff comments
1. The individual contribution of the 6 lenders to this USD 20 million syndicated loan is unknown. For the time being, AidData has estimated China CITIC's contribution by assuming that each lender contributed an equal amount (USD 3,333,333.33) to the syndicated loan. 2. Sources report that the loan was guaranteed by subsidiaries of Sasseur REIT incorporated in Singapore, BVI, and Hong Kong. As specific subsidiaries were not identified, guarantor is coded as ‘Sasseur REIT'