EPF takes RM1.5b loan for London property buy
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3 O% N6 E. M. f& Q- |; i4 KKUALA 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.$ [. n, X9 \1 F4 z6 V! {0 p! {
* u2 z }! ~) K, v! ?; y( Ytvb now,tvbnow,bttvbCiting 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.5.39.217.768 O6 o' e. G- V( L/ v
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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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5 `; F5 I3 I. ctvb now,tvbnow,bttvbEPF 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.TVBNOW 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。& t) j0 U- M, p# u$ x: c4 c1 s/ Y
4 h; c$ j& ^0 E z+ a5.39.217.76The 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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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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