HK&S Hotels signs $2.5b term loan facility

PUBLISHED : Friday, 30 June, 2000, 12:00am
UPDATED : Friday, 30 June, 2000, 12:00am

Hongkong & Shanghai Hotels has signed a HK$2.5 billion term loan facility with a syndicate of 17 international banks, a record amount for the 130-year-old company. The loan, maturing in 2005, is to refinance convertible bonds due in 2001. The balance will be used for low-cost general corporate funding at a lower cost to the company than present facilities.