Mapletree Pan Asia Commercial Trust and subsidiary acquires HK$600m loan facility

The facility is guaranteed by DBS Trustee Limited.

MPACT Management Ltd., the manager of Mapletree Pan Asia Commercial Trust (MPACT), announced that MPACT and one of its subsidiaries have entered into a HK$600m ($102.81m) facility agreement.

The facility is guaranteed by DBS Trustee Limited in its capacity as trustee of MPACT.

The facility contains conditions for when a mandatory prepayment may occur. This includes a resignation or removal of the manager of MPACT without the consent of the facility lender, a replacement manager is not appointed in accordance with the terms of the trust deed constituting MPACT or if the manager or replacement manager is not a direct or indirect wholly-owned subsidiary of Mapletree Investments Pte Ltd, sponsor of MPACT.

Should the clause for the Prepayment Event be triggered, the aggregate level of the facility, assuming the Facility is fully drawn, and existing outstanding borrowings of MPACT that may be affected is approximately $6.08b excluding interest.

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