EPF takes RM1.5b loan for London property buy Q0 s$ J& e! t+ ^
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5 _) W" A) J2 g! f* d' n+ htvb now,tvbnow,bttvbKUALA LUMPUR, Dec 16 — The Employee Provident Fund (EPF) has closed a five-year £300 million (RM1.48 billion) loan, its first offshore loan, to fund the acquisition of three London-based properties, Thomson Reuters publication Basis Point reported today.5.39.217.761 O, R& o4 I( A" b$ _" a
8 P5 p' _7 [. u( y& tTVBNOW 含有熱門話題，最新最快電視，軟體，遊戲，電影，動漫及日常生活及興趣交流等資訊。Citing sources, Basis point said the state pension fund's loan was increased from an initial £240 million. Citigroup was the lead arranger, bookrunner and sole underwriter on the deal.tvb now,tvbnow,bttvb# y; P7 G" e, L, q! c8 |
1 x; t9 d- N4 _3 D( R6 _0 \Bank of Tokyo-Mitsubishi UFJ, OCBC Bank, Scotiabank and Sumitomo Mitsui Banking Corp also joined the deal as equal status arrangers, Basis Point said.
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EPF unit, KWASA UK solo Ltd, was the borrower on the deal, which will fund the acquisition of three properties in London for £490 million. Basis Point said EPF financed the remainder of the purchase price with cash.5.39.217.76; F7 M. |4 d$ Y: n5 D
1 y9 l5 N5 {) m- |6 A公仔箱論壇The loan was tightly priced at a margin of 123 basis points over sterling Libor with an upfront fee of 110 bps, translating to an all-in of 145b over, Basis Point said, citing one source.: q% s+ [7 m. |$ R, R9 m$ L! V+ W
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Basis Point said EPF has not provided any guarantee for the loan, although there is a put option where EPF has to buy the properties from KWASA at a price that is at least equal to the outstanding amount on the loan should there be defaults. — Reuters |
發表於 2011-12-19 10:22 PM
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