CapitaMall Trust gets bank facilities without using property as security

CMT has secured an aggregate of S$800m committed bank facilities.

CapitaMall Trust Management Limited, the manager of CapitaMall Trust, said:

The facilities have maturities of up to three years from the date of draw-down, and can be used to refinance CMT's borrowings under the S$783.0 million commercial mortgage backed securities (CMBS) which will mature on 31 October 2012.

The CMBS maturing on 31 October 2012 was issued by Silver Maple Investment Corporation Ltd, a special purpose company incorporated in Singapore, and is currently secured by seven of CMT’s properties with a loan-to-value of 21.9% as at 31 December 2011. The CMBS is CMT’s only refinancing due in 2012.

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