UOL Group borrows S$1bln for refinancing

The property developer aims to raise funds with the billion dollar loan.

UOL Group Limited on Thursday announced its intentions to loan a S$1 billion Multicurrency Medium Term Note Programme to be used for general corporate purposes including refinancing of existing borrowings and financing of working capital and capital expenditure requirements of the company and its subsidiaries.

The company has appointed DBS Bank Ltd. and United Overseas Bank Limited to act as the arrangers and dealers of the Programme.

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