Singapore's Shangri-La Hotel made its debut in the syndicated loan markets when it signed a S$70 million $40 million loan last week. DBS Bank was the sole mandated arranger for the three-year bullet deal, which was priced at a margin of 52bp over the six-month Singapore dollar swap rate Sibor.
With limited syndication for the small-sized facility, a number of banks showed interest as a result of which the deal was over-subscribed by 40%. DBS Bank had only invited two other banks to participate in the deal - NORDLB Singapore and Bank of China Singapore. But the arranger was overwhelmed with enquiries and calls from other banks wanting to participate in the...
