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Chow Tai Fook Enterprises Reportedly Seeks to Refinance $7.3B Loan
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Chow Tai Fook Enterprises is seeking to refinance a loan of approx. $7.3 billion due in June, and is currently in preliminary discussions for a potential five-year loan, Bloomberg quoted sources as saying. Chow Tai Fook Enterprises is the largest shareholder of NEW WORLD DEV (00017.HK). NEW WORLD DEV has been facing financial constraints in recent years. Given that Chow Tai Fook holds over 40% of NEW WORLD DEV's shares, its financing activities are closely watched and considered an indicator of banks' confidence in Hong Kong's real estate sector. AASTOCKS Financial News Website: www.aastocks.com |
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