E-Land Said to Sign Offshore Yuan, Hong Kong Dollar Facility
E-Land Fashion China Holdings Ltd. signed a HK$333 million ($43 million) loan denominated in Hong Kong dollars and yuan, according to a person familiar with the matter.
HSBC Holdings Plc arranged the three-year term facility, which was split between a HK$155 million part and a 144.5 million offshore yuan ($23 million) portion, the person said, asking not to be identified because the details are private.
Tai Fung Bank Ltd., Hang Seng Bank Ltd., China Construction Bank Corp. (939) and Wing Lung Bank joined HSBC in the lending, the person said.
E-Land Fashion is China’s second-largest apparel company, according to its website. An e-mail sent to the investor relations address listed on the site seeking comment on the loan wasn’t immediately returned.
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