Narrative
Full Description
Project narrative
In or around January 2013, a two-bank syndicate — China Development Bank Corporation (CDB) and Siam Commercial Bank (SCB) — entered into a $200 million USD syndicated revolving credit facility (RCF) agreement with to an unspecified borrowing institution — likely a special purpose vehicle (SPV) affiliated with Reignwood Group, an investment company owned by Chinese-Thai billionaire Chanchai Ruayrungruang — to support the Ten Trinity Square Redevelopment Project. This loan carried a maturity period of three years. Reignwood International Investment (Group) Co., Ltd. — a Hong Kong-registered company part of the Reignwood Group — issued a guarantee in support of the RCF in January 2013. CDB and SCB each contributed $100 million USD to the loan syndicate. The purpose of the project was the extension, restoration, and refurbishment of 10 Trinity Square, a historic structure located near the Thames River and the Tower of London at 10 Trinity Square, London EC3P 3AX, into a luxury mixed-use development. The redevelopment specifically sought to turn the property into a luxury five-star hotel with 100 rooms, two destinations restaurants (La Dame de Pic and Mei Ume), a bar with a lounge, and a spa (the hotel was called Four Seasons at Ten Trinity Square), 41 apartments on four floors with two-, three-, and four-bedroomed units and penthouses along a central courtyard on the top floors of 10 Trinity Square (the residential space was called 10 Trinity Residences), and an exclusive members' club. 10 Trinity Square was constructed in 1922 and served as the headquarters of the Port of London Authority until 1970; in 1946, it hosted the inaugural assembly of the United Nations and in 1948 it was used as the venue for the signing of the UN Charter. Ardmore Group was the main contractor. Aukett Swanke was the architect. Martin Kemp Design and David Linley & Co Ltd served as interior designers. Gardiner & Theobald LLP (G&T) provided project and cost management services. Carey Glass Group was contracted for the manufacture of specialty glass for the project. The project was completed on January 26, 2017, when the Four Seasons at Ten Trinity Square opened.