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 HIBOR 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.
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