KUALA LUMPUR: edotco Group, via its subsidiary edotco Investments (Labuan) Ltd, has completed a syndicated term facility of up to US$700mil.
The facility was structured on a multi-tranche basis for the purpose of refinancing and for general corporate and investment purposes.
In a satement, OCBC Bank (Malaysia) Bhd said it acted as the lead coordinator, mandated lead arranger and facility agent for the syndication.
DBS Bank Ltd and MUFG Bank Ltd Labuan Branch also participated in the syndication as mandated lead arrangers for the facility.
"The successful financial close of this Syndication further reinforces our position as the top mandated lead arranger in the Bloomberg league table for loan syndication in Malaysia.
"We are honoured to be a strategic financial partner in supporting edotco Group’s regional M&A and path of expansion over the last decade, to become one of the largest integrated telecommunications infrastructure services companies in Asia,” said OCBC Bank managing director, senior banker and head of investment banking Tan Ai Chin.
edotco CEO Mohamed Adlan Ahmad Tajudin said the fundraising exercise is primarily to fund the group's recent acquisition in the Philippines whereby its wholly owned subsidiary has entered into a sale and purchase agreement for the acquisition of 2,973 telecom towers with subsidiaries of PLDT, Inc, Philippines’ largest fully integrated telecommunications company.
"The successful closure of this transaction serves as a testament to the strong and unwavering support and confidence that the banking group have in edotco Group.
"We will continue to strengthen our financial position with long-term financing while ensuring a balanced debt maturity profile," he said.