EPF takes RM1.5b loan for London property buy5.39.217.768 I9 [2 B2 Z) v3 r5 w" m; m7 K
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5 M- K4 q: ]$ |) e+ N5.39.217.76KUALA 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./ K, d l9 T" X
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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.
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$ d1 m) g" V3 w) l" V( Z3 n5.39.217.76Bank 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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% j. X, Z/ \' M+ l; YEPF 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.公仔箱論壇+ q8 I9 |0 p, O& D; q( L9 M
6 o+ V8 J: W0 J8 k6 M) d" ?6 JTVBNOW 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。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.
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! G. S( T1 b* g# ?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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