Saturday, July 19, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Technology

Kore obtains option to extend US$115 million term loan facility for 12 months

by Riah Marton
in Technology
Kore obtains option to extend US5 million term loan facility for 12 months
Share on FacebookShare on Twitter


Its trustee has also obtained a revolving credit facility with a principal amount of US$25 million

THE trustee of Keppel Pacific Oak US Reit (Kore) secured an option to extend a 12-month unsecured term loan facility of US$115 million, its manager said on Monday (Jul 22).

The trustee also obtained a revolving credit facility with a principal amount of US$25 million, with conditions tied to mandatory prepayment events.

Under the terms of the facility agreement, the real estate investment trust (Reit) must pay all outstanding loans under the loan facility immediately should the manager, or any replacement or substitute, step down from its role.

Another mandatory prepayment event for the revolving credit facility is if sponsor Keppel and either sponsor Kore Pacific Advisors or US asset manager Pacific Oak Capital Advisors fail to collectively, directly or indirectly own all shares of Kore’s manager Keppel Pacific Oak US Reit Management.

If these events occur, the trustee will need to prepay the outstanding loans, which would cause a cross-default under the borrowings of Kore and its subsidiaries – estimated to be around US$695 million, excluding interest and fees.

Kore units closed 2.9 per cent or US$0.005 lower at US$0.169 on Friday.

Tags: ExtendFacilityKoreLoanMillionMonthsobtainsOptionTermUS115
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

Next Post
CapitaLand India Trust completes 6.8 billion rupees acquisition of Navi Mumbai office building

CapitaLand India Trust completes 6.8 billion rupees acquisition of Navi Mumbai office building

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In