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MTR CORPORATION In Talks with Banks on Bilateral Loans to Extend Rail Network: Wire
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MTR CORPORATION (00066.HK) is in discussions with multiple banks to seek a number of bilateral loans to continue expanding its rail network, Bloomberg reported, citing people with the knowledge of the matter. MTR is seeking a number of banks to grant loans of about HKD1 billion each, with a maximum term of five years, but the total amount of capital raised has not yet been confirmed, sources divulged. An MTR spokesman said that the company is conducting forward-looking financial planning to address funding needs that arise from business operations, while adding that bilateral loans have always served as a tool for its working capital management. Last month, it had been rumored that MTR would need at least HKD160 billion to invest in maintenance and upgrading and railroad projects in the next 10-12 years, and that the MTR was looking at ways to hike revenue and reduce costs. AAStocks Financial News |
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