Everbright loan allotted

Everbright Finance and Investment Co's US$1.05 billion loan facility has been allotted, arranger China Construction Bank says. The borrower is a wholly owned subsidiary of state-owned China Everbright Holdings. The facility has a maturity of a year. Proceeds are to be used to part-finance China Everbright Holdings' purchase of a 7.74 per cent stake in Hongkong Telecom. Arrangers are China Construction Bank, China International Capital, China Development Finance, HSBC Investment Bank Asia, Goldman Sachs Asia and Hang Seng Finance.