Hongkong eken m003 and Shanghai Hotels seeks HK$1 bln loan
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Hongkong and Shanghai Hotels seeks HK$1 bln loanPublished: 05 May 2009 20:12:29 PST

Top 5 News From ChinaKnowledge.comGM China sales up 50% in AprilOceanwide Real Estate to issue RMB 3.2 bln in corporate bondsHang Seng Index opens 81.32 points lower on WedChina to release stimulus plan for new energy sectorGuoyuan Asset Management to launch US$300-mln PE fund May 6, 2009 (China Knowledge) – The Hongkong and Shanghai Hotels Ltd<0045>, owner and operator of the Peninsular chain of luxury hotels, is seeking for HK$1 billion worth of loan, said market sources, Reuters reported.

The proceeds from the loan will be used to replenish working capital and conduct refinancing activities.

It is estimated that the aggregated yield of the loan will be 200 basis points.

Shares of the Hong Kong-listed company dropped 1.1% to close at HK$6.45 on Tuesday.



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