Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
MGP Raffle, the unit of an investment fund managed by Bermuda-based property developer MGPA, hired Oversea-Chinese Banking Corp. to help it borrow $635 million to refinance debt, reported Bloomberg.
OCBC, Singapore’s third-largest bank, began talks with other lenders to syndicate the three-year loan, Simon Treacy, MGPA’s chief executive officer of Asia investments, said in a phone interview from Hong Kong today.
“My understanding is that syndication is going very well,” Treacy said, declining to provide details on the debt to be refinanced. “The Singapore property market has rebounded, and with employment picking up and leases getting done around town we’re already back on a growth projectile.”
OCBC, Singapore’s third-largest bank, began talks with other lenders to syndicate the three-year loan, Simon Treacy, MGPA’s chief executive officer of Asia investments, said in a phone interview from Hong Kong today.
“My understanding is that syndication is going very well,” Treacy said, declining to provide details on the debt to be refinanced. “The Singapore property market has rebounded, and with employment picking up and leases getting done around town we’re already back on a growth projectile.”
The MGPA fund that controls MGP Raffle owns the 8 Shenton Way office tower in Singapore, according to MGPA’s Web site.
