This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Logan and KWG Secure Private Loan for $1bn Refinancing
August 12, 2024
Logan Group and KWG Group Holdings secured a private loan to refinance a facility of over $1bn. The loan size of the new borrowing facility was $1.05bn, smaller than the original $1.3bn size, as noted a week earlier. The loan has an annualized yield of 13% with a tenor of 30 months and two six-month extension options, according to sources. The original loan facility was backed by the luxury real estate project, The Corniche and was set to mature on August 25. Private equity and credit firms Davidson Kempner Capital Management and Dignari Capital Partners HK Ltd provided $250mn each, with Deutsche Bank AG and RRJ capital lending $200mn each.
Both KWG and Logan’s dollar bonds are trading at distressed levels of 6-8 cents on the dollar.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.