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NEW WORLD DEV Secures Commitments from ~10 Banks to Join Loan Refinancing: Wire
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NEW WORLD DEV (00017.HK) has secured commitments from about 10 banks to participate in its $87.5 billion (about US$11.2 billion) loan refinancing, Bloomberg quoted insiders as saying. NEW WORLD DEV invited more than 50 existing bank lenders to join the deal, the sources said. NEW WORLD DEV is striving to reach an agreement by the end of June. BANK OF CHINA (03988.HK), HSBC HOLDINGS (00005.HK), BANK OF E ASIA (00023.HK), Fubon Bank (Hong Kong), HANG SENG BANK (00011.HK), Credit Industriel & Commercial (CIC) and a number of other financial institutions have completed the internal approval process, and will join the agreement, with a total committed credit line of over $20 billion, according to insiders. More banks are also in the process of internal approval and are expected to finalize the deal in the next few weeks, the insiders added. AAStocks Financial News Website: www.aastocks.com |
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