First REIT Subsidiary Pledges 100 Million Units

First Real Estate Investment (SG:AW9U) has released an update.

First Real Estate Investment Trust (First REIT) has announced that its indirect wholly-owned subsidiary, OLH Healthcare Investments Pte. Ltd., has pledged 100 million units, representing 4.79% of First REIT’s issued units, to RHB Bank Berhad. This pledge is part of a unit pledge arrangement that maintains the total number of pledged units at 580 million, as previously disclosed. The arrangement complies with the Singapore Exchange Securities Trading Limited’s Rule 728 and is connected to various financial agreements, including a S$100 million bond guarantee and a S$10 million credit facility.

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