Financing for The Peninsula Tokyo

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 1 June 2010

The Hongkong and Shanghai Hotels (HSH), through its wholly-owned subsidiary, Peninsula Tokyo, has signed bilateral loans of JPY6 billion each with Australia and New Zealand Banking Group (ANZ) and Credit Agricole Corporate and Investment Bank (Credit Agricole).

The 5 year term loans, maturing in 2015, are principally to refinance the original construction loans for The Peninsula Tokyo, opened in 2007.

Commenting on the financing, Mr. Neil Galloway, Chief Financial Officer of HSH said, "We continue to look at opportunities to lengthen our average debt maturity profile. We saw an opportunity to achieve this on favourable terms with the support of ANZ and Credit Agricole and appreciate their continuing support for the group."

The Peninsula Tokyo was opened in September 2007 and occupies a prime location in Marunouchi, the financial centre of Tokyo. The hotel has since established an international reputation for being one of the finest hotels in the country.

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