HONG KONG, March 26 (Basis Point) - Five banks have signed a
$300 million five-year term loan for Philippine shopping mall
operator SM Prime Holdings Inc, according to sources.
ANZ, Bank of Tokyo-Mitsubishi UFJ, HSBC
, Mizuho Corporate Bank and Sumitomo Mitsui
Banking Corp were the banks on the club loan.
As previously reported, funds from the bullet facility are
for general corporate purposes.
All-in pricing is in the low 200s, according to sources.
Meanwhile, seven banks have joined a $200 million, five-year
loan led by original mandated lead arranger and bookrunner
Standard Chartered Bank, according to sources.
That bullet loan offers a top all-in of 195bp via a margin
of 170bp over Libor for commitments of $20 million or more in
In March 2011, SM Prime sealed a $270 million five-year term
loan that paid an all-in close to 190bp clubbed by ANZ, BTMU,
Chinatrust Commercial Bank, Citigroup, ING
Bank, Maybank, Mizuho, StanChart and SMBC.
By the end of this year, SM Prime's portfolio will include
48 malls in the Philippines and five in China, the company said
in a press release on Feb. 18. Its Chinese malls are located in
the cities of Xiamen, Jinjiang, Chengdu, Suzhou and Chongqing.