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IFC Development Limited
HKD10 billion three-year syndicated term loan facility

2012-02-16

SHKP Chairman and Managing Director Raymond Kwok (seven from right) and Henderson Land Chairman Lee Shau Kee (seven from left) with representatives of banks and IFC shareholders at the loan-signing ceremony.  From left to right: Naoya Arima, General Manager, Debt Capital Markets Department, Sumitomo Mitsui Banking Corporation, Sander Yau, Assistant General Manager, Head of Corporate Business, Corporate Banking & Financial Institutions, Bank of China (Hong Kong) Limited, Amy Kwok, Executive Director, Sun Hung Kai Properties (Financial Services) Ltd., Chris Chan, Managing Director & General Manager, Regional Head, Corporate Banking, Greater China & The Philippines, Sumitomo Mitsui Banking Corporation, Martin Lee, Vice Chairman, Henderson Land Development Company Ltd., Ngan Suk Fun, Mariana, Joint General Manager, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Lee Shau Kee, Chairman, Henderson Land Development Company Ltd., Lin Guangming, General Manager, Corporate Banking & Financial Institutions, Bank of China (Hong Kong) Limited, Raymond Kwok, Chairman & Managing Director, Sun Hung Kai Properties Ltd., Anita Fung, Group General Manager, Chief Executive Officer Hong Kong, HSBC, Alfred Chan, Managing Director, The Hong Kong and China Gas Company Ltd., Kentaro Akashi, Executive Officer & General Manager, Hong Kong Corporate Banking Division, Mizuho Corporate Bank, Ltd., Au Man To, Executive Director, Sun Hung Kai Properties (Financial Services) Ltd., Christine Ip, Managing Director/CEO HK, United Overseas Bank Limited, Che-Ning Liu, Head of Global Banking, Hong Kong and China, HSBC
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SHKP Chairman and Managing Director Raymond Kwok (seven from right) and Henderson Land Chairman Lee Shau Kee (seven from left) with representatives of banks and IFC shareholders at the loan-signing ceremony. From left to right: Naoya Arima, General Manager, Debt Capital Markets Department, Sumitomo Mitsui Banking Corporation, Sander Yau, Assistant General Manager, Head of Corporate Business, Corporate Banking & Financial Institutions, Bank of China (Hong Kong) Limited, Amy Kwok, Executive Director, Sun Hung Kai Properties (Financial Services) Ltd., Chris Chan, Managing Director & General Manager, Regional Head, Corporate Banking, Greater China & The Philippines, Sumitomo Mitsui Banking Corporation, Martin Lee, Vice Chairman, Henderson Land Development Company Ltd., Ngan Suk Fun, Mariana, Joint General Manager, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Lee Shau Kee, Chairman, Henderson Land Development Company Ltd., Lin Guangming, General Manager, Corporate Banking & Financial Institutions, Bank of China (Hong Kong) Limited, Raymond Kwok, Chairman & Managing Director, Sun Hung Kai Properties Ltd., Anita Fung, Group General Manager, Chief Executive Officer Hong Kong, HSBC, Alfred Chan, Managing Director, The Hong Kong and China Gas Company Ltd., Kentaro Akashi, Executive Officer & General Manager, Hong Kong Corporate Banking Division, Mizuho Corporate Bank, Ltd., Au Man To, Executive Director, Sun Hung Kai Properties (Financial Services) Ltd., Christine Ip, Managing Director/CEO HK, United Overseas Bank Limited, Che-Ning Liu, Head of Global Banking, Hong Kong and China, HSBC

IFC Development Limited (“IFC Development”) is pleased to announce the signing of a HKD10 billion 3-year syndicated term loan facility (the “Facility”) with a consortium of 17 leading international and local financial institutions on 16 February 2012. 

The Facility was arranged through IFC Development Corporate Finance Limited and guaranteed by IFC Development Limited.  The Facility was very well received by international as well as local banks and the aggregate participation commitment amount is more than double of the initial target facility size of HKD5 billion.  In view of the substantial oversubscriptions, the Facility amount is increased from HKD5 billion to HKD10 billion.  The Facility is one of the largest Hong Kong dollar corporate syndicated loans raised recently with strong support from the banking community. 

IFC Development is a joint venture by Sun Hung Kai Properties Limited, Henderson Land Development Company Limited and The Hong Kong and China Gas Company Limited.  Its principal asset is the IFC project located at the most prestigious business address at the heart of core Central.  The IFC project was completed in September 2005 and has a gross floor area of 4.47 million square feet, of which approximately 3.63 million square feet are owned by IFC Development.  The IFC project consists of 2 office towers, the IFC Mall, Four Seasons Hotel Hong Kong, Four Seasons Place which is the luxury suite hotel and 1,308 car parking spaces.

The syndicate group comprises the following leading international and local financial institutions:

Mandated Lead Arrangers Allocated Participation Amount (HK$)
Bank of China (Hong Kong) Limited 1,000 Million
The Bank of Tokyo-Mitsubishi UFJ, Ltd. 1,000 Million
HSBC 1,000 Million
Mizuho Corporate Bank, Ltd. 1,000 Million
Sumitomo Mitsui Banking Corporation 1,000 Million
United Overseas Bank Limited 1,000 Million
China Construction Bank Corporation, Hong Kong Branch 500 Million
Citi 500 Million
DBS Bank Ltd 500 Million
Hang Seng Bank Limited 500 Million
Oversea-Chinese Banking Corporation Limited Hong Kong Branch 500 Million
Standard Chartered Bank (Hong Kong) Limited 500 Million
   
Co-Arrangers  
Scotiabank (Hong Kong) Limited 300 Million
Mega International Commercial Bank Co., Ltd. Hong Kong Branch 200 Million
Bangkok Bank Public Company Limited, Hong Kong Branch 200 Million
China Merchants Bank Co. Ltd., Hong Kong Branch 200 Million
   
Lead Managers  
Shanghai Commercial Bank Ltd. 100 Million
  ----------------
  10,000 Million

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