Singapore Press Holdings’ indirect subsidiary Straits Capital Trust has entered a four-year term loan facility of £205 million (S$354.80 million or US$259.68 million) with OCBC and Standard Chartered Bank (Singapore), the media and property company said Tuesday.
The proceeds will be used to repay existing loans from Times Properties to acquire a purpose-built student accommodation portfolio, which has 20 assets in the U.K., SPH said.
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