3 Jan 2003
URA raises $3.6b revolving credit and term loan facility
The Urban Renewal Authority (URA) signed a $3.6 billion
syndicated revolving credit and term loan facility with 12
international and local banks in Hong Kong today (Friday).
This is the first syndicated loan facility raised by the URA
since its inception in May 2001.
Mr. Billy Lam, Managing Director of the URA said the facility
has attracted enthusiastic response from the banking sector and was
substantially oversubscribed at the general syndication stage. In
view of the favourable response, the URA has decided to raise the
final facility amount to $3.6 billion from $3 billion, after
carefully considering its funding requirements for the next few
years.
Mr. Lam said that the facility would be used for financing a
number of redevelopment projects as well as refinancing part of its
exis
