New World (HKG:0017) is asking more banks to join in issuing a loan of up to HK$15.6 billion as the company tries to look for sources of cash, Bloomberg News reported Friday, citing people familiar with the matter.
The developer will offer key property Victoria Dockside as collateral for the loan, the report said.
The base size of the loan is HK$4 billion, Bloomberg said, citing the sources.
Some existing lenders to New World have decided not to take part in the loan as they are already involved in the company's HK$87.5 billion refinancing, the report said, citing the sources.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.