EPF takes RM1.5b loan for London property buy# I' c9 A; B7 A! k* ?/ t
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' G5 S- F, Y- atvb 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.tvb now,tvbnow,bttvb( p% p/ f- O; R1 q
( E G4 p9 |& ptvb 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.
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2 h" `8 o {& l" U, i9 ]& v5.39.217.76Bank 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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! D+ \+ B- \( g3 xEPF 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。, v- `- K3 j% n0 P' d
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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.2 x9 c( \7 D0 {
* e! q u: H* |. `6 Z8 u! p! Y( Ttvb now,tvbnow,bttvbBasis 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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