Bloomberg News

Parkson Said to Seek Increase in 2010 Loan to $400 Million

October 13, 2011

(Adds loan maturity in second paragraph, banks in third paragraph, and pricing in fourth paragraph.)

Oct. 13 (Bloomberg) -- Parkson Retail Group Ltd. is in talks with banks to increase a loan taken out in 2010 to $400 million from $250 million, said two people familiar with the matter.

The parent company, Parkson Holdings Bhd., operates department stores in China, Vietnam and Malaysia. Parkson Retail is seeking an increase of $150 million on the loan maturing in 2013, said the people, declining to be identified because the details are private.

DBS Bank Ltd., JPMorgan Chase & Co., Malayan Banking Bhd., Natixis and Standard Chartered Plc are arranging the facility, the people said.

The additional portion of the loan pays a margin of 215 basis points over the London interbank offered rate and a so- called all-in rate, which includes fees, of 250 basis points, for commitments of $20 million or more, according to the people.

--Editor: Beth Thomas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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