Wang On Properties' (HKG:1243) subsidiary, Sky Earth, has been granted a loan facility of up to HK$1.02 billion by several financial institutions for a term of 36 months, a Monday Hong Kong bourse filing said.
The financial institutions include Bank of Communications (Hong Kong), Chong Hing Bank, Hang Seng Bank (HKG:0011), The Bank of East Asia (HKG:0023), The Hong Kong and Shanghai Banking Corporation, and United Overseas Bank (SGX:U11).
The group will be using the facility to refinance the outstanding amount under a previous term loan and for general corporate purposes.
Shares of the company were up nearly 6% in recent trade.
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