Market Chatter: Logan, KWG Secure Over $1 Billion Loan Refinancing Facility

MT Newswires Live08-13

Logan Group Company (HKG:3380) and KWG Group Holdings (HKG:1813) obtained a $1.05 billion private loan to refinance a $1 billion loan facility, the South China Morning Post reported Monday, citing people familiar with the matter.

The refinancing facility, arranged by JPMorgan Chase, has a 30-month term and two six-month extension options, with a luxury property in Hong Kong used as security for the loan, the report said.

The new loan is smaller than the original HK$10.2 billion sought by both developers as they already paid part of the debt, the SCMP said, citing one of the sources.

Dignari Capital Partners (HK), Davidson Kempner Capital Management, RRJ Capital, Pacific Investment Management and Deutsche Bank contributed to the loan, the SCMP said, citing the sources.

Both Logan and KWG did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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