Singapore’s Universal Terminal seals five year loan

Universal Terminal, a joint venture between Ocean Tankers parent Hin Leong Group and PetroChina, is said to have sealed a SGD 1.75bn ($1.2bn) loan.

Bank of China, DBS, HSBC and Standard Chartered were the mandated lead arrangers and bookrunners (MLABs) of the amortising loan, reports Reuters.

Funds are to back UniversalTerminal Services Pte’s acquisition of a terminal from its parent, Universal Terminal Singapore, which is also the loan’s guarantor.

Reuters