Latest Breaking News On - Eagle hospitality business trust - Page 1 : comparemela.com

SINGAPORE (THE BUSINESS TIMES) - Bank of America (BOA) has filed a motion to dismiss the Chapter 11 cases of Eagle Hospitality Real Estate Investment Trust (EH-Reit) and Eagle Hospitality Trust (EHT) Singapore entities Eagle Hospitality Trust S1 and Eagle Hospitality Trust S2. BOA is the administrative agent of EH-Reit s US$341 million (S$454 million) prepetition syndicated credit agreement, the trustee of EHT said on Tuesday (March 1) in a bourse filing. BOA s move comes as the US bankruptcy court approves a US$100 million debtor-in-possession (DIP) term loan facility with Monarch Alternative Capital. The court approval allows entities of EHT which have filed for Chapter 11 bankruptcy in the US, including EH-Reit, to borrow up to US$100 million for use under an approved budget. This amount can be increased up to US$125 million under certain conditions.

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