The developer plans to use part of the proceeds to repay its Singapore dollar-denominated 6.9% bond due July, the people added. The bond, which was issued in 2021, has $133 million of principal outstanding, according to Bloomberg-compiled data.
Oxley Holdings Ltd, a cash-strapped property developer in Singapore, is seeking a private credit loan of US$100 million ($135.1 million) to US$120 million partly to help repay a Singapore dollar bond due next month, said people familiar with the matter.
Tenor of the loan would be two years, the people added, asking not to be identified as the matter is private. The borrowing is set to be backed by Oxley’s two property projects in Kuala Lumpur and London, the people said. The deal isn’t final and terms may change, the people added.
