Yongnam Holdings inked S$130m club syndicated loan

To be used for corporate funding requirements.

According to a release, Yongnam Holdings Limited announced that it has signed a S$130 million Senior Transferable Term Loan Facility.

The Group has appointed CIMB Bank Berhad, Singapore Branch, DBS Bank Ltd and Oversea-Chinese Banking Corporation Limited as the Mandated Lead Arrangers, with OCBC acting as the Mandated Coordinator.

The MLAs and Chinatrust Commercial Bank Co., Ltd, will serve as Lenders for the Facility, with its final maturity date being five years from the Facility Agreement dated May 28, 2013.

Proceeds from the Facility will be applied towards corporate funding requirements, including general working capital, capital expenditure and investment in infrastructural developments, where suitable investment opportunity arises.

Mr Seow Soon Yong, Chief Executive Officer of Yongnam said, “The Group continues to see project demand from commercial and infrastructural developments regionally.

The warm reception to this Facility could not have been more timely, bolstering our financial resources as we embark on our next stage of growth –following recent efforts to diversify into infrastructural development on a build, operate and transfer basis that include proposal submissions for the Yangon.