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SCMP Reporter

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.



PSPS loan nearly complete