Shangri-la Hotel debuts in syndicated loan markets

Despite limited syndication for a small-sized facility, over-subscription came to 40%.

Singapore's Shangri-La Hotel made its debut in the syndicated loan markets when it signed a S$70 million $40 million loan last week. DBS Bank was the sole mandated arranger for the three-year bullet deal, which was priced at a margin of 52bp over the six-month Singapore dollar swap rate Sibor.

With limited syndication for the small-sized facility, a number of banks showed interest as a result of which the deal was over-subscribed by 40%. DBS Bank had only invited...

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