SM Prime gets $30M commitment, more to come
(The following item was published by Basis Point, a Thomson Reuters publication)
HONG KONG - A bank has committed $30 million to shopping mall developer and operator SM Prime Holdings Inc's $200 million five-year term loan, sources said.
More are processing credit approvals, according to sources.
The response deadline has been extended to March 15 from February 28, as reported earlier.
Standard Chartered Bank is the sole mandated lead arranger and bookrunner.
The bullet loan offers a margin of 170bp over Libor. Banks committing $20 million or more get an all-in of 195bp via a fee of 125bp, and the lead arranger title, while those committing $10 million - $19 million get an all-in of 190bp via a 100bp fee, and the arranger title.
There is a greenshoe option to increase the loan by up to $50 million. Funds are for working capital and capital expenditure.