Florens Container Inc, the wholly-owned subsidiary of Hong Kong-listed Cosco Pacific, has upsized its five-and-a-half-year loan for $74 million, tapping fully the over-subscription amount of $90 million. ING Bank and Rabobank are the mandated coordinating arrangers for the facility, which will be signed on July 12. The facility comprises of two tranches tranche A for $44 million and tranche B for $46 million.
The facility pays a margin of 72.5bp and has an average life of 4.2 years with the first repayment commencing after 18 months. Arrangers receive participation fees of 86bp all-in of 93bp for commitments of $10 million or above, while co-arrangers receive 74bp all-in of 90bp for commitments of $5 million -$10...
