155
Annual Report 2015
12 LOANS AND BORROWINGS (CONT’D)
iv.
Unsecured borrowings, within one year
H-REIT has in place a $300.0 million uncommitted multi-currency bridge loan facility with a bank (the "
Bridge
Loan Facility
") to fund acquisitions, capital expenditure and working capital requirements.
The Bridge Loan Facility can be drawn in multiple tranches and each tranche is to be repaid within a maximum
period of one year from each draw down date or one year from the first drawn date (where the amount is drawn
in multiple tranches).
In December 2015, £64.5 million ($135.6 million) was drawn down to fund the acquisition of Hilton Cambridge
City Centre, located in United Kingdom.
Approximately $164.4 million of the Bridge Loan Facility remains unutilised as at the end of the financial year.
Terms and debt repayment schedule
Terms and conditions of outstanding loans and borrowings are as follows:
Nominal
Year of
Face
Carrying
Currency interest rate maturity
value
amount
%
$’000
$’000
H-REIT Group and Stapled Group
2015
Fixed rate medium term note
SGD
2.500
2018 120,000 119,935
Floating rate medium term note
SGD 1.273 to 2.152 2016
83,600
83,572
Fixed rate bank loan
AUD
4.010
2020
95,660
94,938
Fixed rate bank loan
SGD
2.990
2019
70,000
69,795
Variable rate bank loan
SGD
2.661
2019
49,000
48,513
Variable rate bank loan
SGD
2.611
2018 100,000
99,325
Fixed rate bank loan
USD
2.800
2018 105,826 105,525
Fixed rate bank loan
USD
2.550
2019
91,715
91,360
Fixed rate bank loan
JPY
1.062
2020
38,324
38,124
Fixed rate bank loan (TMK bond)
JPY
0.657
2020
36,332
35,694
Variable rate bank loan
GBP 1.120 to 1.270 2016 135,563 135,563
926,020 922,344
2014
Fixed rate medium term note
SGD
2.500
2018 120,000 119,932
Floating rate medium term note
SGD 1.273 to 1.452 2016
83,600
83,512
Variable rate bank loan
SGD 1.333 to 1.807 2015 150,893 150,660
Variable rate bank loan
SGD 1.351 to 1.451 2019
70,000
69,738
Variable rate bank loan (Note 13)
AUD 4.640 to 5.290 2015 100,311 100,054
Variable rate bank loan
USD
1.338
2019
86,001
85,596
Fixed rate bank loan
USD
2.800
2018
99,233
98,825
Variable rate bank loan
JPY 0.581 to 1.461 2015
66,710
66,615
776,748 774,932
NOTES TO THE FINANCIAL STATEMENTS
