ESR closes USD 250 million unsecured term loan
ESR, the large Asia Pacific focused logistics real estate platform, has entered into a new facility agreement for a USD 250 million three-year unsecured term loan facility with prominent international banks at a rate of Libor plus 3%, which was drawn down in full in March 2020 and will be utilised by the group to fund its working capital requirements and for general corporate purposes.
Jeffrey Shen and Stuart Gibson, ESR Co-founders and Co-CEOs, said: “ESR is well-capitalised with a strong balance sheet which will allow us to actively pursue strategic growth opportunities in a capital constrained environment. Our underlying business fundamentals remain robust on the back of continued growth in e-commerce and our well-diversified portfolio of assets across Asia Pacific." (mw)