Flora Education Limited

Flora Education Limited - Acquisition

Industry
Other/Education programmes
Area of finance
Syndicated loans
Region
Asia Pacific
Countries
Hong Kong

Deal Overview

ING Bank N.V., Singapore Branch, CTBC Bank Co., Ltd, Mega International Commercial Bank Co., Ltd and United Overseas Bank Limited provided a 5-year HKD 719.5 million Senior Debt Facilities for Flora Education Limited. Proceeds from the Facilities will be used to finance Cognita's development of...

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ING Bank N.V., Singapore Branch, CTBC Bank Co., Ltd, Mega International Commercial Bank Co., Ltd and United Overseas Bank Limited provided a 5-year HKD 719.5 million Senior Debt Facilities for Flora Education Limited. Proceeds from the Facilities will be used to finance Cognita's development of a new premium international fee-paying school in Hong Kong.
The Senior Debt Facilities consist of 1) HKD 364.5m Tranche A Term Loan Facility for the acquisition of the school plot; 2) HKD 295m Tranche B Capex Facility for the refurbishment & expansion of the existing building; and 3) HKD 60m Revolving Credit Facilities for working capital/general corporate purposes.

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Deal Volume
$719.5m
Financial Close
09 April 2016
Sources
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