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These guys are overdue by a year and half now, and further extended by another half year. The old adage of "Extend, amend and pretend"?
And the reason give for 3 month extension on 20th Dec 2021 doesn't pass the smell test. How would minority lenders matter (or have big concerns) if the presumably majority lenders do not have? Wouldn't the majority lenders just take over from the minority lenders if the return/risk was favorable enough?
STATUS UPDATE OF REFINANCING EXERCISE, 20 JUNE 2022
The Board of Directors (the “Board”) of Dasin Retail Trust Management Pte. Ltd. (the “TrusteeManager”), as the trustee-manager of Dasin Retail Trust (the “Trust”) refers to (1) Extension of Offshore and Onshore Facilities announcement dated 20 July 2021 wherein it was announced that the tenure of both Onshore and Offshore Facilities were further extended to 19 December 2021.
The Trustee-Manager wishes to update that the lenders of both the Onshore Facilities and Offshore Facilities (the “Lenders”) pertaining to Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour (the “Initial Portfolio”) and Shiqi Metro Mall with outstanding loans amounting to S$499,520,000 as at 31 December 2021, have granted an extension of approximately six months from 19 June 2022 to 31 December 2022.
https://links.sgx.com/FileOpen/DASINRT-S...eID=721283
Original expiry (Jan2021): https://links.sgx.com/FileOpen/DASINRT-E...eID=645581
STATUS UPDATE OF REFINANCING EXERCISE (20th Dec 2021)
The Trustee-Manager wishes to update that the lenders of both the Onshore and Offshore Facilities have granted an extension of 3 months from 20 December 2021 to allow lenders more time to discuss new requests made by minority lenders.
https://links.sgx.com/FileOpen/DASINRT-S...eID=695072
And the reason give for 3 month extension on 20th Dec 2021 doesn't pass the smell test. How would minority lenders matter (or have big concerns) if the presumably majority lenders do not have? Wouldn't the majority lenders just take over from the minority lenders if the return/risk was favorable enough?
STATUS UPDATE OF REFINANCING EXERCISE, 20 JUNE 2022
The Board of Directors (the “Board”) of Dasin Retail Trust Management Pte. Ltd. (the “TrusteeManager”), as the trustee-manager of Dasin Retail Trust (the “Trust”) refers to (1) Extension of Offshore and Onshore Facilities announcement dated 20 July 2021 wherein it was announced that the tenure of both Onshore and Offshore Facilities were further extended to 19 December 2021.
The Trustee-Manager wishes to update that the lenders of both the Onshore Facilities and Offshore Facilities (the “Lenders”) pertaining to Xiaolan Metro Mall, Ocean Metro Mall and Dasin E-Colour (the “Initial Portfolio”) and Shiqi Metro Mall with outstanding loans amounting to S$499,520,000 as at 31 December 2021, have granted an extension of approximately six months from 19 June 2022 to 31 December 2022.
https://links.sgx.com/FileOpen/DASINRT-S...eID=721283
Original expiry (Jan2021): https://links.sgx.com/FileOpen/DASINRT-E...eID=645581
STATUS UPDATE OF REFINANCING EXERCISE (20th Dec 2021)
The Trustee-Manager wishes to update that the lenders of both the Onshore and Offshore Facilities have granted an extension of 3 months from 20 December 2021 to allow lenders more time to discuss new requests made by minority lenders.
https://links.sgx.com/FileOpen/DASINRT-S...eID=695072