The lead buyer has walked and now lenders are toughening their terms in a deal to buy Hong Kong’s most expensive office tower.
A senior bridge loan may see its yield rise as buyers and banks negotiate the HK$16.08 billion ($2.1 billion) package to finance the purchase of the building known as The Center from a company owned by billionaire Li Ka-Shing, according to people familiar with the matter. Last month, Bloomberg News reported that China Energy Reserve & Chemicals Group pulled out of the buyer group.