Dasin Retail Trust has received a notice of default occurring under a Singapore dollar and US dollar denominated offshore syndicated term loan facility of up to S$430 million.

The offshore facility was announced in 2021 and 2022. Together with a 400 million yuan (S$74.8 million) onshore facility, it was used to finance the acquisitions of the trust’s initial portfolio comprising Xiaolan Metro Mall, Ocean Metro Mall, Dasin E-Colour and Shiqi Metro Mall.