Bank of China contributes to $500 million SGD tranche of a $615 million SGD syndicated loan to Frasers Hospitality Asset Management Pte Ltd for its acquisition of an initial property portfolio

Project narrative

On July 19, 2014, a syndicate of three banks — the Singapore Branch of the Bank of China (BOC), DBS Bank, and HSBC — signed a syndicated term loan (facility) agreement worth $615 million SGD with Frasers Hospitality Asset Management Pte Ltd. The facility agreement consisted of two facilities: a $115 million SGD facility (known as "Facility A") with a 3-year maturity (final maturity date: July 14, 2017) (Record ID#108340) and a $500 million SGD facility (known as "Facility B") with a 5-year maturity (Record ID#96893). The proceeds from both facilities were to be used by the borrower to finance the acquisition of Frasers' initial property portfolio. Facility A was prepaid on July 7, 2017. Facility B was partially prepaid on November 14, 2017.