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Country Garden secures HK$3.79B, US$1.01B loans

Country Garden Holdings Co. Ltd. secured a dual tranche transferrable term loan facility comprising HK$3.79 billion and US$1.01 billion from several lenders.

The four-year loan represents an aggregate amount equivalent to approximately US$1.5 billion. The loan is subject to certain performance obligations on the company's controlling shareholders.

The original lenders are Bank of China (Hong Kong) Ltd., China Construction Bank (Asia) Corp. Ltd., Agricultural Bank of China Ltd. Hong Kong Branch, The Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank (Hong Kong) Ltd., Chong Hing Bank Ltd., Hang Seng Bank Ltd., Shanghai Pudong Development Bank Co. Ltd. Hong Kong Branch, China Everbright Bank Co. Ltd. Hong Kong Branch, Wing Lung Bank Ltd., Malayan Banking Bhd., Tai Fung Bank Ltd. and Nanyang Commercial Bank Ltd.

Bank of China (Hong Kong) also serves as the facility agent for the loan.