A BlackRock fund lost office buildings to Standard Chartered (HKG:2888) after failing to make payment on a 780 million yuan loan for the property, The Standard reported Friday, citing insiders.
The unit decided not to make a payment for a syndicated loan led by StanChart due at the end of September, the report said, citing insiders.
The loan was used to purchase the two office towers purchased in 2018 at the Waterfront Palace in Shanghai, the report said.
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