FSL Trust Secures USD 108 Million Loans

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(Image Courtesy: FSL Trust)

The Board of Directors of FSL Trust Management Pte. Ltd. has announced that it has through its various subsidiaries signed the following loan agreements:

(a) USD 50 million facility agreement with Hellenic Bank Public Company Limited;

(b) USD 40 million facility agreement with Chailease International Financial Services Co., Ltd.; and

(c) USD 18 million facility agreement with Amsterdam Trade Bank N.V.. (collectively, the “New Facilities”).

The purpose of the New Facilities is to refinance the current existing outstanding syndicated loan of approximately USD 109.94 million. Any balance unfunded outstanding to be paid by the Trust out of its internal resources. The New Facilities will be available for drawdown after fulfilment of the respective conditions for their utilizations.

Further announcements will be made by the Trustee-Manager via SGXNET as and when there are any material developments, in compliance with the listing rules of the Singapore Exchange Securities Trading Limited.

Sea News, July 6