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China Merchants, Sino Land, K Wah secure HK$5.27B loan for JV

Sino Land Co. Ltd., K. Wah International Holdings Ltd. and China Merchants Land Ltd. secured a loan worth HK$5.27 billion for their Sky Castle Ltd. joint venture from Bank of China (Hong Kong) Ltd.

The guarantee will run until the final payment is made by Sky Castle, according to a Dec. 16 Hong Kong bourse filing.

Furthermore, the agreement includes all money advanced by the bank under the term loan facilities and interest.