JKH refinances US $ 395 syndicated loan
John Keells Holdings PLC (JKH) yesterday said it successfully refinanced a US $ 395 million syndicated loan facility at its flagship project Cinnamon Life, which was due for repayment in July 2022.
JKH said the loan was successfully refinanced in December 2021, through a US $ 225 million long-term loan facility and a six-month bridging facility of US $ 100 million.
“The US $ 225 million facility was concluded at a rate similar to the previous facility, taking into account step-down pricing mechanisms based on pre-agreed triggers. The facility is a five-year loan with a two-year grace period and back-ended capital payments,” a filing by the JKH said.
“The US $ 100 million bridging facility was structured in order to align with the maturing date of July 2022 of the original facility,” it added.
MIRROR BUSINESS
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2022-01-25T08:00:00.0000000Z
2022-01-25T08:00:00.0000000Z
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