Singapore's PSA mandates DBS for $1 bln loan

Technorati Tags: Baltic Dry Index,Baltic Dry Indices,Ship Chartering,Shipchartering,Voyage Fixtures,Time Charter Fixtures,Panamax,Capesize,Handymax,Handysize,Supramax,Dry Cargo Fixtures,Bulk Cargo Fixtures,Baltic Exchange,Freight Review,Maritime Baltic Index,TNT Freight Review,Singapore PSA,DBS,1 billion Loan

Wednesday, 21 January 2009

PSA International, Singapore's port operator, is looking to borrow $1 billion for three years and has appointed DBS (DBSM.SI) as arranger for the loan, according to Reuters Basis Point. The proposed syndicated loan will be broken into two tranches and will be denominated in a mix of U.S. dollars, Singapore dollars and Hong Kong dollars. A PSA spokesman declined to comment. PSA operates 28 ports in 16 countries including China, India, South Korea and Vietnam.
DBS was not immediately available to comment.