Hong Kong’s Sogo Mall Operator Seeks $1 Billion Loan Refinancing

Hong Kong mall operator Lifestyle International Holdings Ltd. is in talks with banks to refinance a HK$8 billion ($1.03 billion) loan, months after lenders relaxed terms on the borrowing as earnings remain under pressure, said people familiar with the matter.

Proceeds from the new financing for Future Develop Ltd., a subsidiary of Lifestyle International, will be used to refinance the five-year loan maturing in June, the people said, who asked not to be identified discussing private matters. The existing deal is secured against the Sogo department store in Hong Kong’s Causeway Bay.