Sasseur REIT Subsidiary Secures Up to 235 Million Yuan Sponsor Loan

MT Newswires08-28

Sasseur REIT's (SGX:CRPU) subsidiary, Sasseur Cayman, obtained an unsecured sponsor loan of up to 235 million yuan, according to a Wednesday filing with the Singapore Exchange.

Shares of the REIT were up over 1% in Thursday trading.

The sponsor loan has a five-year tenure from the drawdown date, and is pegged to China's five-year loan prime rate.

Proceeds from the loan will be used to prepay existing offshore bank loans.

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