Hang Lung Signs HK$10 Billion Five-Year Syndicated Loan Facilities
HONG KONG SAR - Media OutReach Newswire - 21 January 2025 - Hang Lung Properties Limited (SEHK stock code: 00101) ('the 'Company' or 'Hang Lung') announced that it has successfully signed a five-year HK$10 billion loan facilities ('the Facilities') with a consortium of more than 10 international, Chinese and local banks. The Facilities received an encouraging response from the banking community, demonstrating strong confidence in Hang Lung's long-term prospects.
Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties (fourth from the left), and Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties (fifth from the left), with bank representatives (from left to right: United Overseas Bank Limited, Oversea-Chinese Banking Corporation Limited, The Hongkong and Shanghai Banking Corporation Limited, Bank of China (Hong Kong) Limited, and DBS Bank Ltd.) at the closing ceremony of Hang Lung's five-year syndicated loan facilities
The proceeds from the Facilities will be used to refinance part of the Company's debt and provide additional working capital to support the Company's business development.
Mr. Weber Lo, Chief Executive Officer of Hang Lung Properties, said, 'The strong demand of the Facilities underscores Hang Lung's solid credit profile and the market's trust on our business model. We are committed to utilizing the funds from the Facilities effectively to fuel sustainable business growth. We sincerely appreciate the robust endorsement from the banking sector.'
Mr. Kenneth Chiu, Chief Financial Officer of Hang Lung Properties, said, 'Securing this strategic financing will strengthen our financial position, and empower us to implement disciplined capital management while pursuing growth. Furthermore, it will strengthen our banking relationships, bolstering our financial resilience in an evolving market.'
Hang Lung's five-year syndicated loan facilities received an encouraging response from a consortium of more than 10 international, Chinese and local banks
The Facilities are backed by: Bank of China (Hong Kong) Limited DBS Bank Ltd. The Hongkong and Shanghai Banking Corporation Limited Oversea-Chinese Banking Corporation Limited United Overseas Bank Limited Agricultural Bank of China Limited Hong Kong Branch The Bank of East Asia Limited China Minsheng Banking Corp., Ltd. Hong Kong Branch China Zheshang Bank Co., Ltd. Hong Kong Branch Hua Xia Bank Co., Limited Hong Kong Branch Chong Hing Bank Limited Hang Seng Bank Limited First Commercial Bank Ltd. Hashtag: #HangLungProperties
The issuer is solely responsible for the content of this announcement.
About Hang Lung Properties
Hang Lung Properties Limited (SEHK stock code: 00101) creates compelling spaces that enrich lives. Headquartered in Hong Kong, Hang Lung Properties develops and manages a diversified portfolio of world-class properties in Hong Kong and the nine Mainland cities of Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. With its luxury positioning under the '66' brand, the company's Mainland portfolio has established its leading position as the 'Pulse of the City'. Hang Lung Properties is also recognized for leading the way in enhancing sustainability initiatives in the real estate industry, all the while pursuing sustainable growth by connecting customers and communities.
PR Category :Others Posted on : Wednesday, January 22, 2025 11:00:00 AM UAE local time (GMT+4)
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