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Country Garden Holdings obtains dual-tranche loan facility

Country Garden Holdings Co. Ltd. entered into a facility agreement for a dual-tranche transferrable loan facility for HK$3.47 billion and US$486.2 million, respectively.

The Chinese real estate developer will use the proceeds from the loans to refinance existing debt.

The first tranche has a term of 36 months, and the second tranche has a term of 24 months.

ICBC (Asia) Ltd. served as the facility agent, and HSBC Ltd. and ICBC (Asia) were the mandated lead arrangers and book runners and coordinators for the facility.