Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Victory City Said to Hire Four Banks for HK$900 Million Loan

Victory City International Holdings Ltd. hired four banks to help it borrow HK$900 million ($116 million), according to a person familiar with the matter.

HSBC Holdings Plc, Hang Seng Bank Ltd., Citic Bank International Ltd. and Mizuho Corporate Bank Ltd. will help to organize the loan for the Hong Kong-based maker of knitted fabric and dyed yarn. The banks began marketing the three-and-a-half year facility to other lenders last week, the person said, asking not to be identified because the details are private.

Proceeds will be used for working capital and to refinance debt, according to the person. Money can be lent in either Hong Kong or U.S. dollars and the loan will pay a margin of 293 basis points more than the Hong Kong interbank offered rate, the person said.

Victory City reported revenue of HK$2 billion and profit of HK$270 million for the six months ended Sept. 30, according to financial statements on its website. The company’s website says it is one of the world’s largest knitted fabric makers with more than 2,000 staff.

It has HK$928 million of loans maturing before the end of 2013, according to data compiled by Bloomberg.

Banks lending the equivalent of HK$100 million or more will receive a so-called all-in rate of 355 basis points while banks contributing HK$70 million to HK$99 million will get a rate of 350 basis points, the person said. Those providing HK$40 million to HK$69 million will receive 345 basis points.

Visits for bankers to two of Victory City’s factories in China will take place from Feb. 13 and lender have been asked to make commitments by Feb. 17, the person said. The loan has an average life of 2.8 years, according to the person.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.