AWAS announced that its first Asian Unsecured Revolving Credit Facility size was increased from the original $65m target to a final $100m due to strong syndication feedback from Asian banks. The deal was 70% oversubscribed from the initial launch size. The transaction was arranged by Mandated Lead Arranger and Bookrunner DBS Bank Ltd., who also provided the Asia focused syndicated loan an anchor commitment. The facility includes new unsecured lenders for AWAS, including The Bank of East Asia, Limited, Singapore Branch and the Korea Development Bank, Singapore Branch as well as existing lenders Mega International Commercial Bank Co., Ltd., Offshore Banking Branch and Taiwan Cooperative Bank, Offshore Banking Branch.

This new facility will have a 3 year term with pricing at Libor plus 215bp supported by AWAS’ BB+ Corporate Credit Rating, positive consolidated results and successful expansion of its global leasing platform.