Hong Kong Builder Parkview Secures $940 Million Loan Refinancing

Parkview Group Ltd. has secured a $940 million loan refinancing deal backed by a key Beijing asset, according to people familiar with the matter, ending a months-long saga that had weighed on the Hong Kong developer amid China’s prolonged property crisis.

The new loan has a one-year tenor and carries an additional extension option of up to two years, said the people, who asked not to be identified discussing private matters. The facility, backed by the Parkview Green complex in Beijing’s Chaoyang district, refinances an identical-sized borrowing that underwent two extensions — in August and November — this year.