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Ascott Residence ( (SG:HMN) ) has provided an announcement.
CapitaLand Ascott Trust has entered into a facility agreement with DBS Bank for a revolving loan facility of up to S$145 million, granted to DBS Trustee Limited as trustee of the REIT. A key condition requires that the REIT continues to be managed by CapitaLand Ascott Trust Management Limited or another wholly owned subsidiary of CapitaLand Investment Limited, with any change in manager subject to the lender’s acceptance.
If this management condition is breached and the replacement manager is deemed unacceptable, DBS Bank may cancel the loan commitment and demand prepayment of outstanding loans and related sums within 14 days. Such a review event could also trigger cross defaults across other borrowing facilities of the REIT and its subsidiaries, potentially affecting about S$3.185 billion of outstanding REIT facilities, though the trust reports that no breach has occurred as of the announcement date.
The most recent analyst rating on (SG:HMN) stock is a Buy with a S$1.08 price target. To see the full list of analyst forecasts on Ascott Residence stock, see the SG:HMN Stock Forecast page.
More about Ascott Residence
CapitaLand Ascott Trust is a stapled group listed on the Singapore Exchange, comprising CapitaLand Ascott Real Estate Investment Trust and CapitaLand Ascott Business Trust. It operates as a Singapore-based real estate investment and business trust platform, focusing on income-generating properties and related hospitality and lodging assets for investors seeking listed stapled securities exposure.
Average Trading Volume: 6,902,076
Technical Sentiment Signal: Buy
Current Market Cap: S$3.44B
See more insights into HMN stock on TipRanks’ Stock Analysis page.