Sun Hung Kai Properties (HKG:0016) has locked in a HK$20 billion syndicated loan at its lowest borrowing cost in years, Bloomberg News reported Wednesday, citing people familiar with the matter.
The five-year facility will be used for refinancing and carries an interest margin of 60 basis points over the Hong Kong Interbank Offered Rate, according to the report.
Lenders include Bank of China (Hong Kong), DBS Bank, HSBC, and OCBC, with signing expected in April or May, the report said.
(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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