The holding companies of IREIT Global's properties obtained a nearly €200.8 million loan facility from UniCredit Bank AG that will mature January 2026.
The credit line provided to the property holding companies of the Singapore-listed real estate investment trust will be used to fully refinance existing debt amounting to approximately €193.5 million and/or for general working capital and corporate expenditure, according to a news release.
Funds from the facility are expected to be drawn down in January 2019, subject to standard conditions.
The validity of the loan facility is also subject to, among other things, IREIT Global Group Pte. Ltd. maintaining its role as manager of the REIT.