(5 February 2010) China Overseas Land & Investment Ltd signed a five-year HK$8 billion revolving and term loan facility on 5th February 2010. Mr. Kong Qingping, chairman of China Overseas and Mr. Hao Jianmin, vice –chairman and chief executive officer, attended the ceremony.
The Facility is jointly offered by 10 famous banks including The Bank of China (Hong Kong) Limited, Bank of Communications Co. Ltd, Hong Kong Branch, Industrial and Commercial Bank of China (Asia)Limited, Agricultural Bank of China, Hong Kong Branch, Hang Seng Bank Limited, The Bank of East Asia,Limited, DBS Bank Limited, Hong Kong Branch, Wing lung Bank Limited, The Hongkong and Shanghai Banking Corporation Limited and China Construction Bank Corporation, Hong Kong Branch.
The original targeted amount of the syndicated loan was HK$5 billion. Because of the warm response and strong support from the banks, the amount of loan was increased to HK$8 billion. This is the largest syndicated loan for China Overseas since its establishment. The proceeds will be used for the property development of the Group.
The board of directors and the staff of China Overseas expressed their sincere appreciation for the continued support of the banks to the Company.
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