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First REIT trustee enters S$100M facility deal

First Real Estate Investment Trust's trustee, Perpetual (Asia) Ltd., signed a S$100 million term loan facility agreement with the Labuan branch in Malaysia of CIMB Bank Bhd.

The agreement comes with certain conditions that require PT Lippo Karawaci to maintain at least a 25% interest in the Singapore-based healthcare REIT and for Bowsprit Capital Corp. Ltd. to remain as its manager.

As of May 17, US$1 was equivalent to S$1.34.