Chinese builders Logan, KWG seen near private refinance deal on US$1.3b The Corniche loan

Quick Summary:

Investors are targeting a 13 per cent annualised yield for the private deal on the loan that financed The Corniche in Ap Lei Chau, according to sources familiar with the matter.

The project began sales in early 2023 and has sold about 31 out of 295 units as of end July, according to a first-hand residential property website.

The three-year debt is a HK$10.2 billion mortgage held by a group of banks including HSBC, Standard Chartered, and Industrial and Commercial Bank of China (Asia) to finance the project construction in 2021.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong KongChinaSingapore

Topics: Management Private Project Hong Group Corniche Loan Chinese Investment According Logan

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 07:30:16 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 703 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21922259

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