Macquarie Reit Refinances $220m Loans

Source : The Business Times, March 13, 2008

Singapore-listed Macquarie MEAG Prime Reit said on Thursday it has refinanced $220 million (US$159 million) of short-term loans to extend their maturity until September, following a strategic review.

The loans comprises $190 million, which were due in May, and $30 million, due in August. MMP Reit did not disclose the financial terms of the deal or the banks involved.

The trust said last month it was conducting a review to lift the value of its units, and may sell assets or go private after main shareholder Macquarie received unsolicited offers for its 26 per cent stake. -- REUTERS