8th Sep 2014 10:05
LONDON (Alliance News) - Macau Property Opportunities Fund Ltd, which is managed by Sniper Capital Ltd, Monday said it has generated USD33.0 million of free cash through a combination of new loan facilities and restructuring of existing debt covenants.
Macau Property Opportunities' cash balance now stands at more than USD55.0 million, according to a company statement.
"This successful conclusion of our debt negotiations demonstrates MPO's continuing ability to source funds at attractive rates, thanks to our strong relationships with financial institutions in the region. The company's enhanced financial flexibility leaves it well-placed for the future," Chairman David Hinde said in a statement.
| Facility Value | Arrangement | Maturity | Bank | Notes |
| HKD100 Million | Top-Up Facility On Assets In One Central Residences | 01/09/20 | Hang Seng Bank | Maturity In line With Existing Loan |
| HKD132 Million | Removal Of Early Prepayment Requirement | Releases Sales Proceeds From Individual Units At One Central Residences Subject To Maintaining Loan-To-Value Ratio Of Not More Than 50% | ||
| HKD24 Million | Refinancing Of Loan Facility For Luxury Private House The Green House | 01/06/17 | Banco Tai Fung | New Facility Increases Loan Principal To HKD70 Million From HKD46 Million |
Table compiled by Alliance News
Macau shares were Monday quoted up 0.6% at 251.56 pence per share.
By Samuel Agini; [email protected]; @samuelagini
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