HK Builder Parkview Gets Loan Extension, Easing Default Risk

Hong Kong developer Parkview Group Ltd. has secured a three-month extension on a $940 million loan that was due Aug. 15, according to people familiar with the matter, giving it more time to work on a refinancing deal with banks.

The loan, backed by the Parkview Green complex in Beijing’s Chaoyang district, will now mature in November, the people said, asking not to be identified discussing private matters. Parkview risked a potential default had it not managed to secure the extension, as lenders would have had the option to demand immediate repayment when the facility matured.