Company Briefs: OUE H-Trust

OUE H-Trust

OUE Hospitality Trust (OUE H-Trust) has drawn down on the term loan facilities and completed the refinancing of its total outstanding debts of US$859 million (S$1.1 billion) ahead of their maturity.

This comes after it entered into a facility agreement with BNP Paribas last week for the grant of two term loan facilities and two revolving loan facilities totalling S$980 million.

"Prior to the refinancing, US$294 million was due in July 2018, US$270 million was due in July 2019, and US$295 million was due in January 2020," the group said.

With the refinancing, the stapled group has no loans due until December 2020.


Yanlord Land Group

Real estate developer Yanlord Land Group's wholly owned subsidiary, Yanlord (Shenzhen) Investment Management Co, has acquired a 65 per cent stake in Shenzhen Dongguan Shengtai Investment Co for about 563 million yuan (S$115 million).

The Shenzhen Dongguan Shengtai Investment Co holds the development rights to a prime 55,000 sq m gross floor area redevelopment site in China.

Located in the LuoHu district - which is the key shopping and commercial district of the Shenzhen Special Economic Zone - the site is connected to key thoroughfares through the city and is also close to two metro stations.


SingLand

ANZ (Australia and New Zealand Banking Group) has, in its capacity as independent financial adviser, advised Singapore Land (SingLand) shareholders to accept the mandatory unconditional cash offer made by UOL Group.

UOL had earlier this year made the offer for all the SingLand shares it does not already own at $11.85 apiece in cash.

The adviser believes, on balance, that the financial terms of the offer are fair and reasonable and not prejudicial to the interests of SingLand shareholders.

The obligation for UOL to make the mandatory offer was triggered under Singapore's takeover code last month when UOL and its concert parties attained statutory control of United Industrial Corporation, which in turn owns over 99 per cent of SingLand.

A version of this article appeared in the print edition of The Straits Times on December 20, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe