Yongnam nets S$130m from four-member club

Steel company Yongnam Holdings signed a S$130m ($102.9m) club loan with four banks on May 28, with plans to use the proceeds for general corporate purposes.

  • 31 May 2013

Chinatrust Commercial Bank, CIMB Bank, DBS and Oversea-Chinese Banking Corp provided the five year loan, according to a banker.

OCBC co-ordinated the transaction, but bankers at the lender were unwilling to disclose the margin or the participation fees.

The Singapore-based company plans to use the proceeds for corporate ...

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