Keppel Pacific Oak US REIT Secures New Loan Facilities

Keppel Pacific Oak US REIT (SG:CMOU) has released an update.

Keppel Pacific Oak US REIT has secured a loan facility option to extend a $115 million unsecured term loan and has obtained a new $25 million revolving credit facility, with the condition that the loans must be repaid immediately if there’s a change in the company’s management or ownership. The potential impact of a mandatory prepayment event could affect approximately $695 million of the REIT’s and its subsidiaries’ borrowings, though no such event has occurred as of the announcement date.

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