SB REIT Management Pte. Ltd., as Manager of Soilbuild Business Space REIT announced 21 May 2018, that it has redeemed the Series 001 Notes. The redemption of the Series 001 Notes was funded with the net proceeds from the divestment of a property commonly known as KTL Offshore amounting to SGD 54.7 million, a SGD 30 million 5-year unsecured bank loan, the drawdown of a SGD 8.5 million committed bank facility and cash. The redemption of the Series 001 Notes has lowered Soilbuild REIT's aggregate leverage from 40.2% as at 31 March 2018 to 37.5% and lengthened Soilbuild REIT's weighted average debt maturity from 2.4 years as at 31 March 2018 to 3.0 years as of 21 May 2018.