Hongkong and Shanghai Hotels seeks HK$1 bln loan
Published: 05 May 2009 20:12:29 PSTMay 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. Copyright © 2009 www.chinaknowledge.com |
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