S$260 million loan facilities to First Real Estate Investment Trust

A&G News 22 February 2021

Allen & Gledhil advised First REIT Management Limited, in its capacity as manager (“Manager”) of First Real Estate Investment Trust (“First REIT”), and Perpetual (Asia) Limited, in its capacity as trustee of First REIT (“Trustee”), on the S$260 million loan facilities (“Loan Facilities”) to First REIT entered into by the Trustee with Oversea-Chinese Banking Corporation Limited and CIMB Bank Berhad, Singapore Branch and CIMB Bank Berhad, Singapore Branch.

The Loan Facilities include a term loan facility of S$178.5 million and a revolving credit facility of S$42.5 million, with an accordion option for a S$39 million increase in commitments.

Advising the Manager were Allen & Gledhill Managing Partner Jerry Koh and Partner Jonathan Lee.

Advising the Trustee was Allen & Gledhill Partner Foong Yuen Ping.