New World Development (HKG:0017) chose the Bank of China (HKG:3988, SHA:601988), DBS Group's (SGX:D05) DBS Bank, and HSBC (HKG:0005) to arrange a loan that will refinance HK$58.1 billion in bank debt maturing in 2025 and 2026, Bloomberg News reported, citing people familiar with the matter.
The details of the loan could be released to other prospective lenders soon, the report said.
The developer's executives have also met with officials from other banks in Hong Kong to discuss New World's status, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.