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.
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.
Bookrunners DBS and
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