Sino-Ocean needs to pay up to get demand

06 Mar 2012

Sino-Ocean Land wants to raise around $500m in the loan market, giving it part of the money to refinance a $700m loan that falls due in September. But the borrower will need to offer a lot more than it paid on the maturing deal if it is going to find demand in syndication, said bankers.

The company has sent a request for proposals to lenders asking for a $500m three year loan but has not yet picked banks to manage the deal, said a syndicate official at a Chinese lender that is considering the loan.

Sino-Ocean Land has not closed a syndicated loan since ...

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