S$387.2 million term and revolving loan facilities for the acquisition of Maxwell House

A&G News 13 December 2021

Allen & Gledhill, as transaction counsel, advised Chip Eng Seng Corporation Ltd., SingHaiyi Group Ltd. and Chuan Holdings Limited (“Borrowers”) on the S$387.2 million term and revolving loan facilities (“Facilities”) to be granted to their joint venture companies, Maxwell Residential Pte. Ltd. and Maxwell Commercial Pte. Ltd.

The Facilities were applied towards the purposes of financing, among others, the en bloc acquisition of the properties located at 20 Maxwell Road (known as Maxwell House) (“Property”) and the construction costs in relation to the development and construction of a mixed residential and commercial development on the Property.

Advising the Borrowers was Allen & Gledhill Partner Aloysius Ng.