REG - Macau Prop Opp Fund - MPO Announces Refinancing of US$36.3m Term Loan <Origin Href="QuoteRef">MPO.L</Origin>

Macau Property Opportunities FundAnnouncement

05/11/2015 07:00

RNS Number : 5740E
Macau Property Opportunities Fund
05 November 2015
5 November 2015
Macau Property Opportunities Fund Limited
("MPO" or the "Company")
MPO Announces Refinancing of US$36.3 million Term Loan
Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, is pleased to announce that it has entered into a HK$282 million (US$36.3 million) five-year loan facility with Hang Seng Bank for its properties in One Central Residences.
The new loan facility serves to finance the repayment of tranche 1 of the original loan which matures on 25 November 2015 as well as all principal repayment instalments up to the end of 2017.
The loan will mature in September 2020 and interest will be charged at 2.35% per annum over the 1-, 2- or 3-month HIBOR rate. The choice of rate will be decided at the discretion of the Company. 
There is no change to the property's loan-to-value ratio which remains at 46.3% based on June 2015 valuation.
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About Macau Property Opportunities Fund
Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey. Listed on the London Stock Exchange's main market, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices.
Launched in 2006, the Company targets strategic property investment and development opportunities in Macau and mainland China's western Pearl River Delta. Its current portfolio comprises a mix of well-positioned residential and retail property assets.
The Fund is managed by Sniper Capital, an Asia-based property investment manager with an established track record in fund management and investment advisory.
For further information:
Company Registration Number 44813
Website:www.mpofund.com
Public Relations
MHP Communications
Andrew Jaques/ Simon Hockridge / James Morgan
Tel: +44 20 3128 8100


Manager
Sniper Capital Limited
Tel: +65 6222 1440 (Investor Contact)
Tel: +853 2870 5151(Fund Advisor)
Email:info@snipercapital.com
www.snipercapital.com
Corporate Broker
Liberum Capital
Richard Bootle / Jonathan Wilkes-Green
Tel: +44 20 3100 2228
Company Secretary & Administrator
Heritage International Fund Managers
Mark Huntley
Tel: +44 14 8171 6000
Stock Codes:
Bloomberg: MPO LN
Reuters: MPO.L

This information is provided by RNS
The company news service from the London Stock Exchange
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