Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust confirmed that SHREIT has completed a refinancing with a large international global bank. This is a significant milestone given the challenging conditions for hospitality within ASEAN and globally and with many countries experiencing a sharp spike in COVID-19 infections over the past month. This is to refinance the outstanding principal of the long-term loans from financial institutions EUR 45.02 million finance cost which consist of interest and call spread fee totally around 5.6% per annum, to be loan principal USD 61.45 million which will be mature not less than 1 year with average interest rate 8.5% per annum. The interest is payable on a quarterly basis and the general requirements remain unchanged such as to comply with certain covenants, pertaining to various matters including the maintenance of financial ratios prescribed in the agreement, such as a debt to total asset ratio and loan to value ratio, maintenance of the SET listing status of the units of the Trust, limitations on certain material transactions of the Trust and its subsidiaries, maintenance of shareholding structure of the trust manager, etc.