Another big player in the restructuring talks could be Singapore’s GIC. The fund owns a $575 million mezzanine loan backed by the property, according to people familiar with the matter. Also, GIC owns about $100 million to $200 million in equity, the people said.

Both investments might be wiped out unless GIC maneuvers to have more influence in the loan workout process, possibly by buying more senior debt. GIC declined to comment.

Wall Street Journal

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
You May Also Like

What academic freedom?

We need to expand academic freedom in Singapore. Donaldson Tan.

Reform Party: Discussion session on Singapore’s economy

Secretary General Kenneth Jeyaretnam is hosting a discussion session on Singapore’s economy this Saturday.

China can be source of strength for community of nations – Obama

So the United States does not seek to contain China, nor does…

PAP will win next two elections: Lee Kuan Yew

But PAP may be at risk after that, says MM Lee. AFP