A LOAN syndication to raise $950 million for the new Private Sector Participation Scheme (PSPS) project at Siu Sai Wan is expected to be completed by the middle of this month, says Mr Chow Yei-ching, chairman and managing director of Chevalier DevelopmentInternational, the project's developer. The syndicated loan, arranged by Mitsubishi Bank and Credit Lyonnais, surpasses the government repurchase value of $800 million for the project. Chevalier is now the largest PSPS developer in Hongkong, with 15,000 units in its portfolio after winning the Siu Sai Wan tender two weeks ago.
