Hong Kong Housing Society secures HK$12bn syndicated loan for development projects
The loan includes a HK$3bn social component and will help with plans to build 17,000 subsidised housing units in the Special Administrative Region over the next five years.
Fransebas
September 13, 2024
The Hong Kong Housing Society HKHS has signed HK$12 billion $1.54 billion five-year term and revolving syndicated loan facilities with 12 local and international banks, making it HKHS' largest ever syndicated loan it includes a HK$3 billion social tranche.
The overall pricing of the loan facilities is based on the Hong Kong Interbank Offered Rate plus 86 basis points, according to a September 12 media release. The deal for the loan facility comes soon after Hong Kong's Urban Renewal Authority secured a HK$12 billion bond last month amid a difficult property market in the Special Administrative Region SAR.
HKHS...
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