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Hatten Land issues US$25 million of 8% guaranteed secured bonds due 2020
HATTEN Land on Thursday said it has issued US$25 million of 8-per-cent guaranteed secured bonds due 2020.
The guarantee is provided by Tan June Teng Colin, executive chairman and managing director of Hatten Land, and the security by Prolific Acres as chargor under the security documents.
About US$10 million will be used for the completion of Hatten City Phase 2 comprising the Imperio Mall and the Imperio Residence, and the rest for general working capital purposes.
Haitong International Securities (Singapore) and Zico Capital have been appointed as joint arrangers for the issue of the bonds, and Haitong has been appointed as sole underwriter and placement agent for the bonds.