Market Chatter: Sun Hung Kai Properties Taps Back Debt Market; Executive Director Resigns Amid Corruption Allegations

MT Newswires Live02-04 10:10

Hong Kong's Sun Hung Kai Properties (HKG:0016) is once again looking to raise funds via debt after a year-long hiatus, Bloomberg News reported Tuesday.

The city's largest developer is seeking a loan of at least HK$5 billion, similar to its annual fundraising activity over the past decade to refinance debt, the report said, citing people familiar with the matter.

The facility will carry a five-year tenor and Sun Hung Kai expects to close the deal by the end of March.

The firm skipped its annual refinancing last year due to declining asset values and weak investor sentiment, the report said.

Meanwhile, Maureen Fung Sau-yim resigned as an executive director of the firm due to health issues, according to a filing with the Hong Kong bourse Tuesday.

The resignation comes following media reports Maureen was suspended from duties over an alleged corruption case related to a shopping mall in Shanghai, the South China Morning Post reported.

The firm told the SCMP it was investigating the claims.

(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.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1316543674.SGD","symbol_name":"Janus Henderson Horizon Asia-Pacific Property Income A3 SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2608338903","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2608338903","pubTimestamp":1770171015,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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