Savu develops S$420m loan

By Rashmi Kumar
27 Jan 2014

Singapore property developer Savu Investments has launched a S$420m ($328.3m) loan into syndication, returning to the loan market six years after its previous fundraising, as it seeks to refinance a bond.

Savu, owned by NTUC Income, has picked Australia and New Zealand Bank, HSBC and Standard Chartered as the bookrunners and underwriters of the senior secured loan, according to a banker.

The leads funded the amount on January 17, pricing the loan at 80bp over the Singapore swap ...

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