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

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)