Notification of refinancing of AIA Tower (1106Z)
07 Gennaio 2011 - 1:21PM
UK Regulatory
TIDMMCAU
RNS Number : 1106Z
Speymill Macau Property Company PLC
07 January 2011
Speymill Macau Property Company plc (the "Company")
Refinancing of AIA Tower
The Board of Speymill Macau Property Company plc ("the Board")
announces that on 5 January 2011 the Company's wholly owned
subsidiary Speymill Propriedade I (Macau), Lda. ("the Borrower")
signed a Banking Facility Extension ("the Facility") with a Macau
bank (the "Lender") in connection with the re-financing of the AIA
Tower which that subsidiary owns.
The Facility provides that provided certain conditions precedent
are met,when the loan on AIA Tower becomes due on March 05, 2011,
it will be extended until September 5, 2013.
The Board believes that all terms and conditions set forth in
the conditions precedent in the Banking Facility Extension document
will be met in a timely fashion and Macau counsel has confirmed
that the Facility is valid and enforceable vis-a-vis the both the
lender and the Borrower.
The key terms of the Facility are:
1. A fixed loan in the amount of HK$555,000,000 that is
non-recourse to the Company.
2. Subject to an appraisal and legal opinions acceptable to the
Lender
3. Interest will be at 2.05% above HIBOR and will be paid based
on the 3 month or the 6 month HIBOR as the Borrower chooses.
4. The loan is interest only with an annual cash flow recapture
applied to the principal , allowing for HK$10 million to be
retained for CAPEX and with a minimum repayment of HK$5 million
each June of 2011 and 2012
5. The Borrower has paid the arrangement fee of HK$2,775,000 in
full.
6. There is no prepayment penalty if the loan is paid in full
upon the sale of the building, however if it is refinanced there is
a 0.5% fee.
Enquiries
For more information, please visit www.speymillmacau.com or
contact:
Speymill Property Group Limited Galileo Fund Services
Limited
(Manager) (Administrator)
Huang Khoo Ian Dungate
Terri Tsang Suzanne Jones
+44 1624 640 860 +44 1624 692600
Matrix Corporate Capital LLP
(Nominated Adviser and Broker) Paul Fincham
Jonathan Becher
+44 20 3206 7000
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEAAFXEAEFEFF
Grafico Azioni Speymill Mac. (LSE:MCAU)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Speymill Mac. (LSE:MCAU)
Storico
Da Mag 2023 a Mag 2024