Standard Chartered said yesterday it has closed a S$175 million senior secured credit facility for Singapore-based retailer Robinsons & Co.
The five-year facility, structured as a leveraged recapitalisation, is the first deal of its kind in Singapore since the 2008 global financial crisis and represents Robinsons' first syndicated debt financing.
Dubai's Al-Futtaim Group, which acquired Robinsons in 2008, mandated the deal to improve the retailer's capital efficiency and refinance existing indebtedness.
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