BANKERS have given the thumbs up to Hongkong Land's new 10-year exchangeable loan facility, with the deal being increased for the second time to $2.5 billion.
Hongkong Land originally sought only $1.5 billion from the market when it offered transferable loan certificates (TLCs) maturing in 10 years.
The deal was increased to $2 billion before rising again to $2.5 billion.
'The substantial increases in the facility have been made to accommodate the strong demand from the banks, and demonstrate the banking community's confidence in Hongkong Land and in its business,' said Percy Weatherall, Hongkong Land's managing director.
The lending syndicate comprised 15 international banks, he said.
The deal was expected to sell well because the company was such an infrequent visitor to the syndicated loan market.
