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LEE Ho Wah

Partner
Finance
lee.howah@rodyk.com
+65 6885 3604


EXPERIENCE

Acted and led the transaction for Overseas Union Enterprise (OUE) in securing a S$425 million term loan facility from OCBC bank. OUE, through its subsidiary Cove Development, will use the loan to finance the development and cost of construction of a property at Leonie Hill Road. In addition, OCBC has also made available to Cove an interest rate swap facility for a notional amount up to S$375 million. This is for fixing interest swap transactions for tenure of up to four years or at the end of September 2014.


Acted for listed company Overseas Union Enterprise in its S$870.5 million purchase of DBS Tower One and Two from a Goldman Sachs real estate fund, the largest commercial property deal in Singapore this year and possibly since 2008.


Acted for a major local bank in the S$240 million financing of two hotels and an office block in Balestier being built by property developers Hiap Hoe Limited and SuperBowl Holdings Limited through their joint venture company HH Properties Pte Ltd. The two hotels will operate under the Ramada and Days Inn brands, both of which are new to the market. The 390-room Ramada Singapore will be located at Zhongshan Park. It will have more than 6,400 sq ft of meeting space and will be linked to an adjacent office block. The Days Inn Hotel Singapore will have 405 rooms. Both hotels are scheduled to open in 2014.


Acted for Overseas Union Enterprise (OUE) in the sale of the property formerly known as The Parisian located at 21 Angullia Park, via the sale of OUE's subsidiary OUE (Angullia) Pte Ltd to China Sonangol Land at the purchase price of S$283 million. Rodyk also acted in the discharge of the liabilities of OUE, OUE (Angullia) Pte Ltd and Angullia Development Pte Ltd, and the related restructuring with Standard Chartered Bank.


Acted for two borrowers who are subsidiaries of a public listed company in a S$300 million transferable term loan facilities arranged by a major bank for the refinancing of one borrower's loan in relation to the borrower's en bloc acquisition of a residential property in Singapore and the repayment of a shareholders loans in relation to the other borrower's en bloc acquisition of another residential property in Singapore.



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