The facility closed at 50bp over Hibor with a maturity of five years. The deal was guaranteed by Amoy Properties Limited, which will be using the facility to refinance debt and for the general working capital of Amoy Properties Limited and its subsidiaries.
According to officials, the response to the syndication has illustrated the positive outlook of the bank community on the direction and development of the Amoy and Hang Lung group.
The final group of lead arrangers were Bank of China (Hong Kong branch), The Bank of Tokyo-Mitsubishi, Barclays Bank PLC, Bayerische Landesbank Girozentrale (Hong Kong branch), BNP Paribas (Hong Kong branch), Citibank/Salomon Smith Barney, Fuji Bank Limited, HSBC Investment Bank, Hang Seng Bank, OCBC, Sanwa Bank Limited (Hong Kong branch), Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation. Each of the lead arrangers underwrote HK$300 million.
Co-lead managers were Shanghai Commercial Bank, Agricultural Bank of China (Hong Kong branch), Tokai Bank (Hong Kong branch) and Wing Lung Bank. With the exception of the Shanghai Commercial Bank, which contributed HK$200 million, all the co-lead managers put in HK$150 million. Senior managers on the deal were BOCI Capital, Dah Sing Bank and Tai Fung Bank with contributions of HK$100 million each, while other senior managers Bank of East Asia and DBS, put in HK$75 million.