Hang Lung Secures HK$10bn Loan Amid Strong Lender Confidence

Hang Lung Properties Ltd (00101.HK) said it signed a five-year HK$10 billion (US$1.28 billion) loan facility with a consortium of more than 10 international, Chinese, and local banks, reflecting strong confidence in the firm’s long-term prospects.

Proceeds from the facilities will refinance part of the company’s debt and provide working capital for business development, the Hong Kong-based developer said in a statement.




“The strong demand for the facilities underscores Hang Lung’s solid credit profile and market trust in our business model,” Chief Executive Officer Weber Lo said. “We are committed to utilizing the funds effectively to fuel sustainable business growth.”

“Securing this strategic financing will strengthen our financial position and empower disciplined capital management while pursuing growth,” added Chief Financial Officer Kenneth Chiu.

The consortium includes Bank of China (Hong Kong) Ltd, DBS Bank Ltd, HSBC, Oversea-Chinese Banking Corp Ltd, United Overseas Bank Ltd, Agricultural Bank of China Ltd Hong Kong Branch, The Bank of East Asia Ltd, China Minsheng Banking Corp Ltd Hong Kong Branch, China Zheshang Bank Co Ltd Hong Kong Branch, Hua Xia Bank Co Ltd Hong Kong Branch, Chong Hing Bank Ltd, Hang Seng Bank Ltd, and First Commercial Bank Ltd.

Hang Lung Properties, headquartered in Hong Kong, develops and manages a diversified portfolio of properties in Hong Kong and nine Mainland Chinese cities. The company is known for its “66” luxury brand portfolio and sustainability initiatives in the real estate industry.

Business News Asia

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