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SINGAPORE, Jan 24, 2011 - (ACN Newswire) - Commitments for long-term financing facilities for the proposed ASX-SGX combination announced on 25 October 2010 have been secured.
The proposed combination brings together complementary businesses of two successful exchanges in the Asian time zone to create the premier international exchange in Asia Pacific.
The funding comprises term loans of S$3.8 billion and A$750 million to be made available by well-established banks - Australia and New Zealand Banking Group Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Singapore Branch, DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited, United Overseas Bank Limited and National Australia Bank Limited. Australia and NewZealand Banking Group Limited has been appointed as the co-ordinator in relation to these term loans.
Said Mr Magnus Bocker, CEO of Singapore Exchange, "We thank the six banks for their confidence in the proposed combination and their support towards creating the leading Asia Pacific exchange. This transaction has attracted significant interest from the loans market and we are pleased to have achieved competitive pricing consistent with our good credit standing."
The term loans are in tranches with tenors of three years and five years. The interest payable for the S$ term loan will be based on Singapore dollar swap offer rate plus a margin of 0.55% per annum for the 3-year tranche and 0.72% per annum for the 5-year tranche. The interest for the A$ term loan is based on the relevant Australian bank bill swap bid rate plus a margin of 0.75% per annum for the 3-year tranche and 1.01% per annum for the 5-year tranche.
Contact:
Magdalyn Liew
Communications
Tel : +65 6236 8157
Email : magdalynliew@sgx.com
Carolyn Lim
Communications
Tel : +65 6236 8139
Email : carolyn.lim@sgx.com
Topic: Loans & Financing
Source: Singapore Exchange (SGX)
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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