Yanlord Land Group Limited, a Singapore Exchange-listed real estate developer focusing on developing commercial and residential property projects in China and Singapore, announced that its wholly-owned subsidiary, Yanlord Land (HK) Co., Limited (Yanlord HK) has signed a US$1.1 billion syndicated loan facility comprising a US$805 million equivalent dual-tranche term loan facility and a US$295 million equivalent dual-tranche revolving credit facility.
”The Facility was oversubscribed by 1.4 times, allowing Yanlord HK to increase the total facility size from the original US$860 million to US$1.1 billion,;” said the company in a statement.
“The strong support we have received from the financial institutions for the Facility bears testament to their continued confidence in Yanlord’s sustainable development and solid financial position. Over the last few years, Yanlord has continued to increase its investments in high-growth cities in the PRC. Our products are well received by our customers. With the growth in partnerships with strategic international and local partners, we have been increasing the number of developments necessary to sustain our long-term development, diversify our income sources and mitigate risk,” said Zhong Sheng Jian, Yanlord’s Chairman and Chief Executive Officer.
A syndicate of 24 local and international banks and financial institutions across Asia participated in this deal, in which CMB Wing Lung Bank Limited, DBS Bank Ltd., Hang Seng Bank Limited, Shanghai Pudong Development Bank Co., Ltd, Standard Chartered Bank (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited acted as the mandated lead arrangers and bookrunners for this syndicated loan facility.