megan June 3, 2024

HONG KONG, June 3, 2024 – (ACN Newswire via SeaPRwire.com) – Champion Real Estate Investment Trust (“Trust”) (stock code: 2778), owner of Three Garden Road and Langham Place, is pleased to announce the successful signing of HK$5.05 billion three-year unsecured loan facility with a group of leading mainland and international financial institutions.

The facility will be used for debt refinancing, with interest margin of 88 basis points over HIBOR. The refinancing received solid support from eight long-standing relationship banks. Together with new loan facilities amounted to HK$1.55 billion secured recently and other committed undrawn facilities, the Trust has already secured sufficient debt facilities to refinance all the outstanding debt due in 2024 and 2025.

Christina Hau, Chief Executive Officer of the REIT Manager, said, “The solid support from the leading financial institutions will empower the Trust to stay resilient, with the refinancing of the largest outstanding loan facility being successfully arranged. The Trust has maintained a low gearing ratio of 22.8% and will continue to adopt a prudent yet flexible financial management strategy to navigate the changing market condition, maintaining its solid financial standing and capital management.”  

About Champion REIT (2778)

Champion Real Estate Investment Trust is a trust formed to own and invest in income- producing office and retail properties. The Trust focuses on Grade-A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. The Trust was awarded the top five-star rating by the Global Real Estate Sustainability Standard (GRESB) in 2023.

Website: www.championreit.com

Copyright 2024 ACN Newswire via SeaPRwire.com.