S$3 billion syndicated secured loan facility to Perennial Shenton Property Pte. Ltd.
A&G News 5 December 2022
Allen & Gledhill, as transaction counsel, advised DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited, United Overseas Bank Limited, Malayan Banking Berhad, Singapore Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch, Hong Leong Finance Limited and China CITIC Bank International Limited Singapore Branch (“Discharging Lenders”), as well as Bangkok Bank Public Company Limited, Singapore Branch and China CITIC Bank International Limited (together with the Discharging Lenders, “Incoming Lenders”), on the S$3 billion secured loan facilities (“Facilities”) obtained by Perennial Shenton Property Pte. Ltd. (“Perennial”).
The Facilities are for the purposes of, inter alia, refinancing existing loan facilities, and financing the redevelopment of 8 Shenton Way.
Refinancing of the existing loan facilities involved the discharge of security relating to existing loan facilities between, inter alia, Perennial and the Discharging Lenders.
This is the largest real estate green loan facility in Asia to date.
Advising the Discharging Lenders was Allen & Gledhill Partner Daselin Ang.
Advising the Incoming Lenders were Allen & Gledhill Partners Jafe Ng, Ong Kangxin and Lyn Wee.