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OUE Hospitality signs loan facilities worth S$980M

OUE Hospitality Trust signed an agreement with a syndicate of banks for two term loan facilities and two revolving loan facilities worth S$980 million in aggregate.

BNP Paribas, acting through its Singapore branch, DBS Bank Ltd., Oversea-Chinese Banking Corp. Ltd. and Standard Chartered Bank Singapore branch will extend the facilities.

Of the total, the trust drew down on the term loan facilities and refinanced a total outstanding debt of S$859 million. The company refinanced the debts ahead of their maturity, of which S$294 million was due in July 2018, S$270 million was due in July 2019 and S$295 million was due in January 2020.

As of Dec. 18, US$1 was equivalent to S$1.35.