ESR-REIT Management, manager of ESR-LOGOS REIT (SGX:J91U), said trustee Perpetual (Asia) Ltd. has entered into a facility agreement with Australia and New Zealand Banking Group's Singapore branch for standby letters of credit and demand guarantees of up to SG$20 million, according to a Thursday filing on the Singapore Exchange.
The facility, which will be used for general corporate and working capital needs, carries a two-year tenor for each instrument and is unsecured. An event of default may be triggered if ESR Group ceases to hold at least 50.1% of the manager's issued share capital or if the manager is removed without lender consent.
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