Centrepoint Properties Limited CPL, a subsidiary of one of Singapore's biggest property companies Fraser Neave, has launched a $162 million securitization via Standard Chartered.
According to Warren Lee, head of Asian securitization at StanChart, the bank will market the deal to European investors in the UK, Benelux, Ireland and Germany as well as buyers in the Middle East and Asia. The bank will target offshore banks, asset managers and pension funds and Lee expects the deal to be completed in September.
The three-year deal is backed by future revenues from sales of 612 condominiums in the Cote d'Azur residential project that is being developed by Marine Parade View...
