Frasers Logistics & Commercial Trust (SG:BUOU) has released an update.
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Frasers Logistics & Commercial Trust (FLCT) has entered into a EUR 185 million loan facility agreement with specific conditions tied to the management of the Trust. The agreement includes a clause that requires mandatory prepayment if there is a change in the manager without the lender’s consent or if Frasers Property Limited’s shareholding in the manager falls below 50%. Should such a change occur, the lender may cancel the facility and demand immediate payment of all loans and related costs.
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