Evergrande seeks $11.4b refinancing

Business | Bloomberg 22 Oct 2020

China Evergrande (3333) is seeking refinancing on loans worth HK$11.4 billion.

The group is in talks with banks for a HK$11.4 billion three-year senior secured loan partly to refinance a HK$8 billion senior loan due in November and tied to an office tower in Hong Kong's Wan Chai district, according to people familiar with the matter, who are not authorized to speak publicly and asked not to be identified.

The mainland developer didn't immediately respond to a request seeking comment.

China Evergrande fully repaid a HK$4 billion mezzanine facility that partly refinanced mortgage debt backing its purchase of an office tower in Wan Chai district in 2015, Bloomberg reported earlier. The company prepaid the facility in mid-October prior to the November maturity date, according to sources who asked not to be identified

China Evergrande raised HK$12 billion via a senior loan and a mezzanine facility in 2018.

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