Refinancing glut looms for Singapore real estate companies

Real estate companies in Singapore are facing a year of heavy CMBS redemptions in 2009, with most likely to turn away from the mortgage-backed market as they attempt to refinance the deals.

  • 13 Jan 2009
Rating agency Fitch warned on Friday that real estate investment trusts (Reits) and property companies in the city state would need to refinance S$2.1bn in 2009 out of S$6bn outstanding overall. Bankers have little faith, however, that the Singaporean CMBS market will recover in 2009, after failing to ...

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