The Airport Authority is lining up banks for $4 billion in loans to be used for ongoing projects and to increase working capital, the authority said yesterday. Half the financing is to be in a three-year revolving credit facility, and half in a five-year term loan that converts into a revolving facility after year three. 'This is an ongoing process [in] that we go to the financial institutions almost every year for general funding,' Airport Authority spokeswoman Connie Hon said. One banker, whose company has been asked to submit a bid, said he expected the authority's invitation to be well-received by the financial community. 'I think demand [from banks] would be strong and I won't be surprised if the size of the loan is upped to $6 billion,' he said. He noted that earlier this year property giant Henderson Land Development more than doubled the size of a loan to $10 billion after a strong response from banks. With an eye to listing next year, the authority is obliged to repay to the government $6 billion of the $36 billion invested to build Chek Lap Kok. The repayment was rubber-stamped by the Legislative Council earlier this year and the authority had previously said it was looking at its options to raise the capital. It is understood the authority plans to appoint the arrangers for the new facility next month and has asked banks to submit their bids by today.