Sasseur REIT's manager announced the REIT's subsidiaries and its sponsor have agreed to extend a sponsor loan of RMB308 million ($56 million) that was scheduled to mature in March 2025, to March 2030.
On Dec 7, 2023, the REIT and sponsor had agreed to extend the loan to March 2025.
Sasseur REIT's manager also announced that the parties have entered a supplementary agreement to amend certain terms and conditions of the sponsor loan agreement.
The annual interest rate of the sponsor loan is not a fixed rate and will instead be a floating interest rate with reference to China’s 5-year Loan Prime Rate (LPR). The 5-year LPR is currently 3.6% per annum.
