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HKHS Signs $12B 5-Yr Loan; 17K+ Subsidised Housing Units to Be Completed in Next 5 Yrs
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The Hong Kong Housing Society (HKHS) announced that it has signed $12 billion 5-year term and revolving syndicated loan facilities with 12 local and international banks, marking the largest syndicated loan ever for HKHS, including a $3 billion social tranche. BOC HONG KONG (02388.HK) and HSBC are the coordinators for the syndicated loan facilities. HKHS is now planning or building more than 20 projects, with over 17,000 subsidised housing units expected to be completed within the next five years, including Subsidised Sale Flats, Dedicated Rehousing Estates, rental estate redevelopment projects and elderly housing. The overall pricing of the loan facilities is based on the Hong Kong Interbank Offered Rate plus 86 bps. The $3 billion social tranche will be used for the redevelopment project of Ming Wah Dai Ha in Shau Kei Wan, rehousing estates at Shek Pai Wan Road in Aberdeen and Ting On Street in Kwun Tong, as well as Dedicated Rehousing Estates at Pak Wo Road in Fanling, Hung Shui Kiu/Ha Tsuen, Site 1E1 in Kai Tak, and Kwu Tung North, among others. AAStocks Financial News |
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