HSBC closes Singapore securitisation deal

HSBC closes a three tranche $552 million equivalent securitisation for Singapore's Silver Oak, the first since October 2005.

Silver Oak has closed a securitisation offer to further fund the acquisition of a new property in Singapore. The $552 million-equivalent raised from the deal arranged by HSBC will help pay for Raffles City. This is a development that includes Raffles City Shopping Centre, Raffles City Tower, Raffles City Convention Centre, Raffles the Plaza and Swissotel The Stamford.

Silver Oak is a special-purpose vehicle incorporated in Singapore. The properties are managed by CapitaLand Property Management, a joint venture formed...

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