The club loan facility, which was entered into by Minmetals Land Limited on 16 January 2024, was over-subscribed with a total of 12 lenders participating in the loan facility, including a number of major PRC and regional banks such as China Zheshang Bank Co., Ltd. (Hong Kong branch), Industrial and Commercial Bank of China (Asia) Limited, CMB Wing Lung Bank Limited and the Industrial Bank Co., Ltd., Hong Kong Branch (as mandated lead arrangers). It was also one of the earliest sizeable loan facilities to have successfully closed in the HK loan market since the start of 2024. The proceeds of the loan facility will be used to refinance the existing indebtedness and finance the general funding requirements of Minmetals Land Limited and its subsidiaries.
Minmetals Land Limited is a real estate developer with investment properties and property development projects in Hong Kong and the PRC. It is currently listed on the Hong Kong Stock Exchange and is a subsidiary of China Minmetals Corporation, a Fortune Global 500 company and a leading global conglomerate focused on mineral and metals trading, financial services and real estate construction.
The Hong Kong Banking and Finance team was led by partner Michael Sinn with the support of associate Dorothy Lo, legal assistant Athena Lo and trainee Rita Ying.
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