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Times Properties takes $650m loan - Jun 07, 2005 (ST)

BackJun 07, 2005

The Straits Times / The Business Times News On SPH

Times Properties takes $650m loan




Jun 07, 2005
The Straits Times

SINGAPORE Press Holdings said yesterday that its wholly-owned subsidiary, Times Properties, has secured a $650-million loan for one year from a group of banks.

The money will be used to refinance Times Properties' existing debt.

The loan is secured by a mortgage on the SPH group's investment property, the Paragon in Orchard Road, an assignment of rental proceeds from the shopping mall and insurance on the property.