Starhill Global Real Estate Investment Trust said it has entered into an agreement with Commonwealth Bank of Australia (CBA) for a loan facility of as much as 13 billion yen, according to a statement to the Singapore stock exchange.
The loan will be secured over Starhill’s interests in Ngee Ann City and will be used to finance Japanese yen payments, the trust said. Starhill’s gearing will rise to 32 percent from 30 percent as a result of the loan, according to the statement.
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