SUNTEC REAL ESTATE INVESTMENT TRUST Suntec Real Estate Investment Trust ("Suntec REIT") | Manager of |
ARA Trust Management (Suntec) Limited, as manager of Suntec Real Estate Investment Trust ("Suntec REIT", and manager of Suntec REIT, the "Manager"), wishes to announce that HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of Suntec REIT (the "Trustee"), has entered into a S$120,000,000 facility agreement (the "Facility Agreement") with DBS Bank Ltd. as lender (the "Lender") to refinance an outstanding loan facility extended to Suntec REIT.
Pursuant to Rule 704(31) of Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual, the Facility Agreement includes a condition (the "Relevant Condition") that stipulates that it would be an event of default if:
The Manager ceases to be an Affiliate (as defined in the Facility Agreement) of ARA Asset Management Limited ("ARA"); or
The Manager ceases to be the manager of Suntec REIT and the replacement or substitute manager is (i) not appointed in accordance with the terms of the Trust Deed or (ii) otherwise not approved by the Lender but so that such approval is not required if the replacement or substitute manager is an Affiliate of ARA Asset Management Limited.
The aggregate level of facilities which may be affected by a breach (including facilities which will be affected as a result of cross defaults) of the Relevant Condition is approximately S$2,869,300,000 (excluding interest) as at the date of this announcement.
By Order of the Board
ARA Trust Management (Suntec) Limited (as manager of Suntec Real Estate Investment Trust) (UEN/Company registration no. 200410976R)
Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore's largest integrated commercial development (including one of Singapore's largest shopping mall), a 30.0% interest in Park Mall, a one-third interest in One Raffles Quay, a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall, and a 60.8% interest in Suntec Singapore Convention & Exhibition Centre. Suntec REIT holds a 100% interest in a commercial building located at 177 Pacific Highway, North Sydney Australia which is currently under development. Its aim is to invest in income-producing real estate which is primarily used for retail and/or office purposes. Suntec REIT is managed by an external manager, ARA Trust Management (Suntec) Limited. For more details, please visit www.suntecreit.com.
Suntec REIT is managed by ARA Trust Management (Suntec) Limited, a wholly-owned subsidiary of ARA Asset Management Limited ("ARA"), Asia's premier integrated real estate fund manager which is listed on the Main Board of the Singapore Exchange Securities Trading Limited since November 2007.
ARA currently manages real estate investment trusts ("REITs") and private real estate funds that are invested in the office, retail, logistics/industrial, hospitality and residential sectors in the Asia Pacific region, complemented by its in-house real estate management services and advisory services.
Established in 2002, to date it has over 1,100 professionals in 15 cities managing total assets in excess of S$28 billion.
The value of units in Suntec REIT ("Units") and the income derived from them, if any, may fall or rise. Units are not obligations of, deposits in, or guaranteed by, ARA Trust Management (Suntec) Limited (as the manager of Suntec REIT) or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.
Investors should note that they will have no right to request the Manager to redeem or purchase their Units for so long as the Units are listed on the SGX-ST. It is intended that holders of Units may only deal in their Units through trading on the SGX-ST. The listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
The past performance of Suntec REIT is not necessarily indicative of the future performance of Suntec REIT.
Suntec Real Estate Investment Trust issued this content on 2016-01-13 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-13 13:23:14 UTC
Original Document: http://www.suntecreit.com/admin/dir/2016011301015320160113 Entry into Facility Agreement and Disclosure Pursuant to Rule 704_31.ashx.pdf
