Report: LOGAN GROUP, KWG GROUP Refinance $10.2B Loan for HK Luxury Home Project 'The Corniche'

　　Bloomberg, citing sources, reported that financially troubled LOGAN GROUP (03380.HK) -0.020 (-2.632%) Short selling $115.73K; Ratio 4.363% and KWG GROUP (01813.HK) -0.005 (-1.639%) are about to sign a private loan agreement to refinance a $10.2 billion loan for their luxury residential project “The Corniche” in Hong Kong Island.

　　It is learnt that the loan, arranged by JPMorgan, may be signed early next week with relevant investors, including Singapore-based private equity firm RRJ Capital, PIMCO and Deutsche Bank.

　　Related NewsHSBC Global Research Ratings, TPs on CN Developers (Table)

　　Figures showed that the initial $10.2 billion loan for the project will expire on 25 August, with about $8.6 billion of principal and interest still outstanding. It is learnt that the developer has been hoping that the refinanced loan can fully cover the existing loan, but the final amount of the refinanced loan has not yet been confirmed.

　　“The Corniche” is located at 66 Lee Nam Road, Ap Lei Chau, offering 295 units. So far, a total of 23 units have been sold, realising over $1.8 billion.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-24 12:25.)

　　AAStocks Financial News