The Tuen Mun operator will use facility to refinance outstanding debt River Trade Terminal, a loss-making container terminal part-owned by Hutchison Whampoa, has secured a HK$2 billion loan to help refinance outstanding debt, a banking source said. The five-year facility was arranged by Standard Chartered Bank and a Japanese bank, the source said. The loan will cut River Trade Terminal's finance expenses. 'The facility will be used mainly for refinancing while some will be used for general capital expenditure in the coming years,' the banker said. The terminal, in Tuen Mun, is the largest river trade container terminal in the Pearl River Delta with a capacity of more than 50,000 20ft-equivalent unit containers supported by 49 berths. The venture between Hutchison and Sun Hung Kai Properties has not turned a profit since its launch in 1999. 'Even though the terminal is still losing money, banks are still on its side due to its strong shareholder structure,' the banker said. The terminal was built to capture mainly river-trade cargo but the remote location, away from Hong Kong's main port operations, has made it less attractive in the competitive container market. Separately, Tianjin Development Holdings, which had asked banks to help arrange a HK$2 billion five-year term refinancing loan, will not increase the facility despite an overwhelming response from local lenders, bankers said. 'The hot response was beyond our expectations,' said one arranger involved in the transaction. More than 20 lenders had promised to offer a commitment with the facility, the source said. The red-chip conglomerate will pay banks an all-in interest of about 50 basis points above the Hong Kong interbank offered rate, sources said.