Ryoden gets $625m loan

PUBLISHED : Friday, 20 January, 1995, 12:00am
UPDATED : Friday, 20 January, 1995, 12:00am

PROPERTY developer Ryoden Development has signed a $625 million four-year loan with Japanese bankers and says it will use the proceeds to top up its land bank in Hong Kong and in China.

It will also use part of the loan to refinance part of its long-term liabilities.

A Ryoden spokesman said the loan, at an undisclosed rate over the Hong Kong interbank offered rate, was arranged and lead-managed by the Sanwa Bank.

Ryoden would be able to strengthen its asset portfolio and take advantage of the downturn in the property market, he said.