Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, today announces that it has agreed
terms for a club loan facility of HK$642.82 million (US$82.5 million) with a consortium of international and Macanese Banks, led by HSBC.

The debt facility will be used to finance the remaining consideration for Tower 6 and the 25 individual units acquired by the Company in One Central Residences, Macau’s premier luxury residential development currently under construction. Drawdown of the loan will be upon handover of the project in 2009 and is subject to usual conditions including agreement of final documentation.

The term of the loan is approximately 4.5 years to 30 September 2012, with drawdown to be made no later than 30 December 2009. Interest will be charged at 3-month HIBOR plus 1.4% per annum.

In addition to this facility, the Company is in ongoing discussions with respect to construction financing for its development projects, further details of which will be released in due course.

David Hinde, Chairman of MPO said: “This is the Company’s first debt financing transaction and reflects the strong relationship MPO has developed with HSBC and a number of other banking organisations. The securing of this debt
facility is a prudent measure during this period of tightening global liquidity and allows the Manager to continue to execute the Company’s investment strategy with confidence and visibility.”

source : Macau Property Opportunities Fund Limited