Dasin Retail Trust gets loan extensions

Chinese yuan (renminbi) notes. Photo by Eric Prouzet on UnsplashChinese yuan (renminbi) notes. Photo by Eric Prouzet on Unsplash

Dasin Retail Trust reported Monday that outstanding loans of S$499.52 million have been granted an extension of around six months to 31 December 2022.

The lenders of both the onshore and offshore facilities related to Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour and to Shiqi Metro Mall received the extensions, the REIT said in a filing to SGX.

“The trustee-manager has been working closely with the lenders for the refinancing exercise and exploring potential proposals including but not limited to the disposal of the certain trust assets, partnership with strategic investors, and alternative fund raising activities,” the REIT said.

“The trustee-manager hopes to see a successful conclusion to the refinancing exercise soon,” the REIT said.

Read more: Dasin Retail Trust: Proposed divestment would be used to pay off debt, but it’s not a done deal