URA Signs HK$13 Billion Bank Loan Facilities

The Urban Renewal Authority (URA) announced today (2 January 2025) the successful signing of a five-year Facility Agreement amounting to HK$13 billion. The facilities, which consist of a term loan and a revolving credit facility, provide the URA with the financial flexibility to execute its projects and capital improvement plans efficiently.

The consortium of participating banks includes Industrial and Commercial Bank of China (Asia) Limited as Coordinator, Mizuho Bank, Ltd. Hong Kong Branch as Agent, Agricultural Bank of China Limited Hong Kong Branch, Bank of China (Hong Kong) Limited, Bank of Communications, Hong Kong Branch, China Development Bank, Hong Kong Branch, CMB Wing Lung Bank, DBS Bank Ltd Hong Kong Branch, Hang Seng Bank Limited, The Hong Kong and Shanghai Banking Corporation Limited, OCBC Bank (Hong Kong) Limited, and Standard Chartered Bank (Hong Kong) Limited, whose collective support underscores the robustness and credibility of the URA’s financial framework. The facilities are well-perceived by the banking community, highlighting the trustworthiness and reliability that the URA has established over the years.

The URA expressed gratitude towards the banking partners for their unwavering support. This facility agreement provides the URA with secured funding which will be strategically employed to fulfil the URA’s long-term mission of promoting the sustainable development of urban renewal, improving the built environment and enhancing residents’ standard of living in older districts, contributing to a more liveable Hong Kong.

(ENDS)