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Springland Said to Sign $150 Million Facility With 14 Lenders

Oct. 3 (Bloomberg) -- Springland International Holdings Ltd., an operator of retail stores and supermarkets in China, signed a $150 million three-year term loan with 14 banks, said a person familiar with the matter.

DBS Bank Ltd.. the loan’s mandated lead arranger and bookrunner, was joined by Allied Banking Corp., Bank of East Asia Ltd., Cathay United Bank Co., Chang Hwa Commercial Bank, China Development Industrial Bank Inc., First Commercial Bank Co., Hua Nan Commercial Bank Ltd., Hwatai Bank Ltd., Industrial Bank of Taiwan, Jih Sun International Commercial Bank Co., Land Bank of Taiwan, Taiwan Business Bank and Taiwan Cooperative Bank, the person said.

The facility pays a so-called top-level all-in fee of 306 basis points more than the London interbank offered rate, the person said on Sept 23.

Cleavebury Ltd. is taking out the loan, which Springland will guarantee.

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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