MTR (HKG:0066) is in preliminary discussions with banks for a potential loan to help fund its Northern Link rail project, Bloomberg News reported Monday, citing people familiar with the matter.
Proceeds of the loan are expected to support the first phase of the project in Hong Kong's New Territories area, but the size and terms of the facility have yet to be determined, the report said.
A company spokesperson told Bloomberg that MTR would plan ahead to support its pipeline of projects, including securing funding when appropriate and considering market conditions.
The Northern Link, which is expected to be commissioned in 2034, will connect the East Rail Line and the Tuen Ma Line, forming a loop in the northern New Territories, the report said.
MTR plans to finance the project through a mix of property development proceeds, internal resources, and debt, the report added.
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