A consortium led by private equity company Hony Capital and two Hong Kong property magnates will borrow HK$2.3 billion to build a golf course in the New Territories Hong Kong, Bloomberg News reported Tuesday, citing people familiar with the matter.
The loan will have a five-year term, and proceeds will be used to transform a restored landfill in Tai Po into an 18-hole, par-71 golf course, the report said.
The Plover Cove Golf Club will begin operations in 2027, the report said.
Hony Capital will hold a 45% stake in the golf course, while the family of Far East Consortium (HKG:0035) Chairman David Chiu will hold 40%, and Peter Lam of Lai Sun Development (HKG:0488 will have a 5% stake, the report said.
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