Mapletree Industrial Trust said its trustee, DBS Trustee Ltd., secured new loan facilities that have similar conditions to some of the trust's loan facilities and notes issued under a S$1.00 billion multicurrency medium-term note program.
The conditions require Mapletree Industrial Trust Management Ltd. to remain as the company's manager or be replaced accordingly in case of resignation or removal. It also requires Mapletree Industrial Trust Management to be a direct or indirect subsidiary of the trust's sponsor, Mapletree Investments Pte. Ltd.
The trust said a breach in the conditions could affect S$1.51 billion of facilities, but that as of March 31, there is no such break.
As of March 31, US$1 was equivalent to S$1.40.