Appleby advises Standard Chartered Bank on loan facilities to Prosperity REIT
Appleby has acted as BVI counsel to Standard Chartered Bank, the mandated lead arranger, bookrunner, facility agent and security agent, in relation to an HKD404m (£30m) secured loan facility and an HKD384m loan facility to the Prosperity Real Estate Investment Trust (REIT) via a BVI special-purpose vehicle borrower and secured by several guarantors.
Prosperity REIT will use the above facility to partly fund its intended acquisition of a 25-storey Grade-A office building in Kwun Tong, Hong Kong, for HKD1.01bn.
The Appleby team was led by Jeffrey Kirk, a banking partner in Appleby’s Hong Kong office, and assisted by senior associate Rupen Shah, while Allen & Overy Hong Kong acted as onshore counsel to Standard Chartered Bank.
Appleby has been involved in several REIT transactions, including several financings to Fortune REIT and the listing of New Century REIT in Hong Kong.
This content was originally sourced from the Appleby website.
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