Sniper Capital secures new loan facility

Debt negotiation raises US$15.5 million cash
Regional property investment manager Sniper Capital announces that it has secured a new loan facility of US$28.4 million for its low-rise Macau residential development The Fountainside.
The refinancing, which has been agreed with the Industrial and Commercial Bank of China (Macau) Limited, generates US$15.5 million net cash after the repayment of an existing US$12.9 million loan facility with a local bank. A redevelopment project of Sniper Capital's London listed Macau Property Opportunities Fund Limited, The Fountainside is located in Macau's prestigious neighborhood of Penha Hill. The asset consists of 38 luxurious apartments and four villas, of which a total of 27 units have been sold.


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