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Market UpdatesSingapore SGX stocks

AIMS APAC REIT Secures Major Sustainability-Linked Loan for Growth and Refinancing

Posted on September 17, 2024 at 11:01 am (GMT+8)

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Date of Report
17 September 2024

Broker
Maybank Research Pte. Ltd.

Sustainability-Linked Loan Announcement

AIMS APAC REIT (AA REIT) announced a new unsecured sustainability-linked loan (SLL) valued at up to SGD 400 million and AUD 150 million. The loan is designed with sustainability margin adjustments that are tied to AA REIT’s performance in achieving pre-determined sustainability targets.

Purpose of Loan

The proceeds from the sustainability-linked loan will be allocated towards:

  • Refinancing the existing Group indebtedness
  • General corporate purposes
  • Working capital requirements
  • New growth initiatives, which include acquisitions, asset enhancement initiatives (AEIs), and developments

Debt Maturity Extension

The successful execution of this SLL will extend AA REIT’s average debt maturity from 2.1 years to over 3 years as of the end of June 2024.

Impact on Debt Structure

Following the refinancing, the proportion of unsecured debt in AA REIT’s overall debt structure will increase to over 50% of its total debt.

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