SINGAPORE: Usaha Tegas Sdn Bhd hired Sumitomo Mitsui Banking Corp to arrange a S$400mil loan to fund its acquisition of property company Overseas Union Enterprise Ltd, according to a banker involved in the deal.
The loan consisted of two parts, a S$300mil five-year portion and a S$100mil one-year portion, said the banker, who declined to be identified. The all-in pricing for the deal, which includes interest and fees, is 70 basis points for the five-year portion and 185 basis points for the one-year loan, the banker said. A basis point is 0.01 percentage point.
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