Press Release
Lai Sun Development Company Limited
HK$1,183 Million 5-Year Secured Term Loan Facility
for the Development of a Site Located at
No. 79 Broadcast Drive, Kowloon Tong, Kowloon
(Hong Kong, 24 March 2022) Gainful Limited, owner of the captioned site and an indirect wholly-owned subsidiary of Lai Sun Development Company Limited (0488.HK) ("Lai Sun"), has mandated The Bank of East Asia, Limited, Bank of China (Hong Kong) Limited, Bank of Communications (Hong Kong) Limited, China Construction Bank Corporation, Hong Kong Branch, China Everbright Bank Co., Ltd., Hong Kong Branch, Dah Sing Bank, Limited, DBS Bank (Hong Kong) Limited, Hang Seng Bank Limited and Oversea-Chinese Banking Corporation Limited to be the Mandated Lead Arrangers and Lenders for arranging a 5-year secured term loan facility (the "Facility"). The Facility was substantially over-subscribed with a total commitment of HK$2,948 million received by Gainful Limited, which represents approximately 249% of the total facility amount of HK$1,183 million.
We wish to thank all Mandated Lead Arrangers and Lenders for their strong support of the Facility and of Gainful Limited and Lai Sun and look forward to concluding this transaction within the next few weeks.
The principal terms and the participating banks of the Facility are as follows:
Borrower | : | Gainful Limited |
Facility Type | : Secured term loan facility | |
Facility Amount | : | HK$1,183 million |
Term | : | 5 years |
Interest Rate | : 1% per annum over HIBOR | |
Facility Agent/ | : | The Bank of East Asia, Limited |
Security Agent | ||
Mandated Lead | : The Bank of East Asia, Limited | |
Arrangers and Lenders | Bank of China (Hong Kong) Limited | |
Bank of Communications (Hong Kong) Limited | ||
China Construction Bank Corporation, Hong Kong Branch | ||
China Everbright Bank Co., Ltd., Hong Kong Branch |
Dah Sing Bank, Limited
DBS Bank (Hong Kong) Limited
Hang Seng Bank Limited
Oversea-Chinese Banking Corporation Limited
For enquiries, please contact:
Ms. Freda Chang, Group Financial Controller (t: 852 2370 5702)/
Ms. Wei Wei, Group Corporate Finance (t: 852 2853 6116)
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Lai Sun Development Company Limited published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 12:41:08 UTC.