October 9, 2018 / 6:47 AM / 8 days ago

C&D International Investment seeks US$200m loan

HONG KONG, Oct 9 (LPC) - Hong Kong-listed property developer C&D International Investment Group has launched a US$200m three-year bullet loan.

Bank of China (Hong Kong) is the sole mandated lead arranger and bookrunner of the borrowing, which pays an interest margin of 250bp over Libor and a top-level all-in pricing of about 300bp.

No commitment fee applies during the one-month availability period.

Proceeds are for working capital purposes.

Commitments are due by early November.

The borrower mainly develops properties in Xiamen and other cities in China’s Fujian province. It also owns 60% of a project in Sydney.

Xiamen C&D, which is owned by the Xiamen city government, holds around 61% of C&D International Investment. (Reporting by Apple Lam and Yan Jiang; Editing by Vincent Baby)

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