Hong Kong Housing Society Secures $1.5 Billion Syndicated Loan
- Public housing provider signs five-year facility with 12 banks
- The syndicated loan includes a HK$3 billion social tranche
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The Hong Kong Housing Society, a major public housing provider of the city, has signed a HK$12 billion ($1.5 billion) syndicated loan with 12 local and international banks, the non-governmental organization said in a statement Thursday.
The largest deal of its kind for the organization, the five-year term and revolving loan facilities include a HK$3 billion social tranche, HKHS said. The loan’s overall pricing is 86 basis points over the Hong Kong Interbank Offered Rate, a local lending benchmark.