Sept 15 (Reuters) – Apollo Global Management has extended $585 million in financing to office space provider The Executive Centre (TEC), the U.S.-based asset manager said on Tuesday. Here are some more details about the deal: • The proceeds will be used to refinance existing debt and support TEC’s expansion plans. • Bloomberg reported last […]
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Apollo Global Management provides $585 million financing to office provider TEC
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Sept 15 (Reuters) – Apollo Global Management has extended $585 million in financing to office space provider The Executive Centre (TEC), the U.S.-based asset manager said on Tuesday.
Here are some more details about the deal:
• The proceeds will be used to refinance existing debt and support TEC’s expansion plans.
• Bloomberg reported last month that TEC was seeking a loan of about $500 million to refinance debt and fund capital expenditures.
• Headquartered in Hong Kong, TEC operates workspaces in the Asia-Pacific region and the Middle East, with a portfolio of over 260 centres across 38 cities.
(Reporting by Ruchika Khanna in Bengaluru; Editing by Rashmi Aich)