Apollo-managed funds, affiliates and other long-term investors provided a $585 million financing to The Executive Centre (TEC), a provider of flexible office space, with more than 30 years of operating experience and a portfolio of over 260 centers across 38 cities in 15 markets across APAC and the Middle East. Proceeds will be primarily used to refinance existing debt and positions TEC for further expansion to meet sustained demand for premium flexible office spaces in the region.
“We are excited to deliver a tailored solution to The Executive Centre that supports their business needs and long-term strategic objectives,” Celia Yan, partner and co-head of APAC Credit & Hybrid at Apollo, said. “Bespoke hybrid solutions require deep cross-collaboration and the ability to understand both investors and management teams alike, and we are pleased to be TEC’s partner of choice for this transaction.”
A spokesperson for The Executive Centre added, “TEC has spent three decades building a trusted platform for multinational clients who need the flexibility to scale across Asia. Apollo’s ability to deliver a solution signals confidence and addresses both our refinancing objectives and growth ambitions, reflecting the long-term, partnership-driven approach we were looking for.”
A&O Shearman acted as legal counsel to Apollo. Clifford Chance acted as legal counsel and Rippledot Capital as financial advisor to The Executive Centre.
