Fosun International Gets Refinancing Loan
- Four banks participated in the $205 million one-year facility
- Chinese conglomerate has stepped up efforts to slash debt
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Fosun International Ltd. has secured a HK$1.6 billion ($205 million) syndicated loan to partly refinance an existing facility for a Hong Kong property project, according to people familiar with the matter.
The new facility, which has a one-year tenor, was signed at the end of last month, said the people, asking not to be named discussing private matters. The upsized facility is meant to roll over a HK$1.3 billion loan that the Chinese private conglomerate received last year for refinancing and general corporate purposes related to a property in Hong Kong’s Clear Water Bay.