Chinese developers Logan and KWG use Hong Kong project to refinance US$1 billion loan

Quick Summary:

Logan Group and KWG Group Holdings signed a US$1.05 billion refinancing deal arranged by JPMorgan to roll over a loan due on August 25, sources said.

Lenders are willing to refinance the loan as the developers have taken action to lower the average selling price and sell some units, he added.

However, a slump in Hong Kong’s property market has pushed down the prices of units in the project by as much as 40 per cent.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong KongChina

Topics: Project Units Corniche Developers Loan According Kong Billion Hong Property Capital

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-12 @ 16:17:23 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 602 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 25 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22028625

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