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Frasers Hospitality Trust unit makes S$65M partial prepayment

Frasers Hospitality Trust unit Frasers Hospitality Real Estate Investment Trust made a partial prepayment of S$65 million under its S$500 million, five-year term loan facility.

The S$500 million facility was granted pursuant to the S$615 million facility deal signed June 19, 2014.

The prepayment will be funded using a S$70 million term loan facility signed March 2 between Perpetual (Asia) Ltd., a trustee of the REIT, and the Singapore branch of Malayan Banking Bhd.

Following the partial prepayment, S$65 million of Frasers Hospitality REIT's debt has been extended to March 2023 from July 2019, and the combined facilities of the unit and its subsidiaries totaled roughly S$849.4 million, excluding interest, as of March 14.

As of March 14, US$1 was equivalent to S$1.31.