Ascott Residence (SG:HMN) has released an update.
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CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd., collectively known as the Managers, have announced a S$165 million multicurrency revolving credit agreement facilitated by DBS Trustee Limited and OCBC. The agreement is subject to conditions that involve the interests of controlling unitholders and potential changes in REIT management, which, if breached, could lead to default. No breaches have occurred as of the announcement date.
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