Dasin Retail Trust announces ‘events of default’ under $106.61m offshore facility

All commitments under the facility will be immediately cancelled.

Dasin Retail Trust announced that “events of default” had occurred and are continuing under its Singapore dollar and Hong Kong dollar-denominated offshore syndicated term loan facility of up to $106.61m.

Based on the continuing “events of default,” the Bank of China has declared that all commitments under the facility are “immediately cancelled.” Bank of China serves as the facility agent of the offshore facility.

Bank of China also declared that the “loans together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents are immediately due and payable.”

“The loans are immediately payable on demand,” added the facility agent.

As of 25 July, the trust’s total outstandings amount to $55.6m and HK$297.6m. The total outstandings plus all additional interest and applicable default interest calculated in accordance with the offshore facility until payment is made, and indemnity obligations arising under the Finance Documents are immediately due and payable by Dasin Retail Trust Management.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia