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Mitsubishi Motors

Towngas signs HK$3.8b loan deal

PUBLISHED : Friday, 11 February, 2011, 12:00am
UPDATED : Friday, 11 February, 2011, 12:00am

Towngas yesterday signed a HK$3.8 billion five-year syndicated loan facility agreement with a group of banks. Jointly arranged by the Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Citi, it was oversubscribed by more than 70 per cent. The money will be used to refinance a HK$3 billion credit facility agreement dating back to 2006 and support the company's general funding.