Apollo Global Management provides $585 million financing to office provider TEC

Sept 15 : 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.