Gallant closes at $166m, with just four in syndicate

Singapore city 230px
By Rashmi Kumar
26 Jun 2014

Gallant Venture has closed syndication of its three year $166m loan, reducing it from the launch size of $410m after selling two Singapore dollar bonds in April and May. But despite getting commitments from 23 banks in general, the borrower ultimately chose only four lenders to join the deal.

The loan was split between a $98.4m tranche and a S$84.68m ($67.8m) portion. Among the mandated lead arrangers and bookrunners, CIMB, Deutsche Bank and Royal Bank of Scotland were allocated $30m each, while DBS and Standard Chartered kept S$37.5m apiece.

MLAs First Gulf Bank took $4.2m, while Maybank ...

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