Fortune builds up with HK$4.567bn deal

Fortune Real Estate Investment Trust has launched a HK$4.567bn ($589m) multi-tranche loan into syndication. It will use the proceeds to back its acquisition of the Kingswood Ginza Property in Hong Kong.

  • By Rashmi Kumar
  • 06 Sep 2013

The facility is split into three: a HK$1.0663bn five year tranche, priced at 148bp over Hibor, a HK$2.34bn 3.5 year portion, with a margin of 130bp over Hibor, and a 3.5 year unsecured tranche of HK$1.1607bn, which has a 170bp margin, according to bankers.

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1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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5 Credit Suisse 41,885.89 127 5.55%