Florens Container upsizes loan to $90 million

The margin on the loan is almost a third cheaper than that paid by Florens on its six-year loan tapped in March 2001.

Florens Container Inc, the wholly-owned subsidiary of Hong Kong-listed Cosco Pacific, has upsized its five-and-a-half-year loan for $74 million, tapping fully the over-subscription amount of $90 million. ING Bank and Rabobank are the mandated coordinating arrangers for the facility, which will be signed on July 12. The facility comprises of two tranches tranche A for $44 million and tranche B for $46 million.

The facility pays a margin of 72.5bp and has an average life of 4.2 years with the first repayment commencing after 18 months. Arrangers receive participation fees of 86bp all-in of 93bp for commitments of $10 million or above, while co-arrangers receive 74bp all-in of 90bp for commitments of $5 million -$10...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222