Market Chatter: Chow Tai Fook Enterprises Eyes HK$5 Billion in Bank Loans

MT Newswires Live18:40

New World Development's (HKG: 0017) largest shareholder Chow Tai Fook Enterprises is looking to obtain HK$5 billion in a new-money loan from banks, Bloomberg reported Tuesday citing people with knowledge of the matter.

The loan, being obtained for general corporate purposes, would reportedly provide the company with cash in the event of the broad recapitalization of New World Development.

The loan may be signed as early as November, with details yet to be finalized, the report showed.

New World Development and Chow Tai Fook Enterprises did not immediately respond to MT Newswires' request for a comment.

(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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