YTL Starhill Global REIT Management Limited as manager of Starhill Global Real Estate Investment Trust ("Starhill Global REIT") (in such capacity, the "Manager") is pleased to announce that HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Starhill Global REIT) (the "Starhill Global REIT Trustee") has entered into an unsecured multicurrency revolving credit facility agreement (the "Facility Agreement") with Standard Chartered Bank ("SCB") of up to S$65 million (the "Unsecured RCF") maturing in December 2013.
Pursuant to Rule 704(31) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), the Manager wishes to inform that under the terms of the Facility Agreement, in the event that the Manager or any of its Affiliates (as defined in the Facility Agreement) ceases to be the manager of Starhill Global REIT and a replacement manager is not appointed in accordance with the terms of the trust deed constituting Starhill Global REIT or any other related document or any applicable law by the date of such cessation (the "Change of Control Event"), SCB has the right to require the repayment of all amounts owing under the Facility Agreement. The Change of Control Event has not occurred.
Assuming that a Change of Control Event occurs when the full amount of the Starhill Global REIT's Unsecured RCF and JPY13 billion Loan Facilities1 have been fully drawn, the loans under the S$496 million Facility Agreement2 entered into in July 2010 (the "SGD Loan Facilities") have been reduced (as described in the Manager's previous SGX-ST announcement made on 28 October 2011), and the revolving credit facility under the SGD Loan Facilities has been fully drawn, the aggregate level of facilities that may be affected is approximately S$740 million.
YTL Starhill Global REIT Management Limited
(Company registration no. 200502123C)
(as manager of Starhill Global Real Estate Investment Trust)
Lam Chee Kin
Joint Company Secretary
30 January 2012
1 Details of the JPY13 billion Loan Facilities can be found in the Manager's previous SGX-ST announcement made on 28
October 2011.
2 Details of the S$496 million Facility Agreement can be found in the Manager's previous SGX-ST announcement made on 26
July 2010.
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About Starhill Global REIT
Starhill Global REIT is a Singapore-based real estate
investment trust investing primarily in real estate used for
retail and office purposes, both in Singapore and overseas.
Since its listing on the Mainboard of the Singapore Exchange
Securities Trading Limited (the "SGX-ST") on 20 September
2005, Starhill Global REIT has grown its initial portfolio
from interests in two landmark properties on Orchard Road in
Singapore to 13 properties in Singapore, Malaysia, Australia,
Japan and China, valued at about S$2.7 billion.
These comprise interests in Wisma Atria and Ngee Ann City on
Orchard Road in Singapore, Starhill Gallery and Lot 10 in
Kuala Lumpur, Malaysia, a premier retail property in Chengdu,
China, the David Jones Building in Perth, Australia and seven
properties in the prime areas of Tokyo, Japan. Starhill
Global REIT remains focused on sourcing attractive property
assets in Singapore and overseas, while driving organic
growth from its existing portfolio, through proactive leasing
efforts and creative asset enhancements.
Starhill Global REIT is managed by an external manager, YTL
Starhill Global REIT Management Limited. The Manager is a
wholly-owned subsidiary of YTL Starhill Global REIT
Management Holdings Pte. Ltd. which is in turn an indirect
subsidiary of YTL Corporation Berhad.
The value of units in Starhill Global REIT ("Units") and the
income derived from them may fall or rise. The Units are not
obligations of, deposits in, or guaranteed by, the Manager or
any of its affiliates. An investment in Units is subject to
investment risks, including the possible loss of the
principal amount invested. Investors have no right to request
the Manager to redeem their Units while the Units are listed.
It is intended that Unitholders may only deal in their Units
through trading on the SGX-ST. Listing of the Units on the
SGX-ST does not guarantee a liquid market for the Units.
This document is for information only and does not constitute
an invitation or offer to acquire, purchase or subscribe for
the Units. The past performance of Starhill Global REIT is
not necessarily indicative of the future performance of
Starhill Global REIT.
This document may contain forward-looking statements that
involve risks and uncertainties. Actual future performance,
outcomes and results may differ materially from those
expressed in forward-looking statements as a result of a
number of risks, uncertainties and assumptions.
Representative examples of these factors include (without
limitation) general industry and economic conditions,
interest rate trends, cost of capital and capital
availability, competition from similar developments, shifts
in expected levels of property rental income, changes in
operating expenses (including employee wages, benefits and
training costs), property expenses and governmental and
public policy changes. Investors are cautioned not to place
undue reliance on these forward- looking statements, which
are based on the Manager's view of future events.
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distribué par | Ce noodl a été diffusé par Starhill Global Real Estate Investment Trust et initialement mise en ligne sur le site http://www.starhillglobalreit.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-30 15:07:06 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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