Narrative
Full Description
Project narrative
In June 2020, the New Zealand Branch of China Construction Bank Corporation (CCB) contributed to a five-year $50 million NZD senior secured syndicated bank facility to Investore Property Limited, a New Zealand commercial property and real estate ownership, provided by Investore's existing bank syndicate. The borrowings were managed by a security agent who held a first registered mortgage on all the investment properties owned by Investore and a registered first ranking security interest under a General Security Deed over substantially all the assets of Investore. This loan is captured by Record ID#92817. The banking syndicate consisted of ANZ Bank New Zealand Limited, Bank of New Zealand (BNZ), Commonwealth Bank of Australia (CBA; CommBank), and Westpac New Zealand Bank Limited. With the provision of this loan, CCB joined the bank syndicate. On November 3, 2020, the Auckland Branch of the Industrial and Commercial Bank of China (ICBC) entered into a three-year senior secured $30 million NZD bank facility (loan) agreement with Investore. The borrowings were managed by a security agent who held a first registered mortgage on all the investment properties owned by Investore and a registered first ranking security interest under a General Security Deed over substantially all the assets of Investore. With this loan, ICBC joined the banking syndicate. This loan is captured by Record ID#92818.