Shenzhen Baoying discloses CNY4bn syndicated project loan
The Poly Property subsidiary plans to secure the facility with land and construction assets at its Nanshan development.
Shenzhen Baoying has disclosed a CNY4 billion syndicated fixed-asset loan for its T204-0153 development in Shenzhen’s Nanshan district. Guandian reported the financing on November 11, citing a Poly Property announcement.
The lenders are China Construction Bank Corporation, Agricultural Bank of China Limited, China CITIC Bank Corporation Limited, China Guangfa Bank Co., Ltd. and China Minsheng Banking Corp., Ltd., acting through local branches.
The project company plans to pledge the site’s land and construction assets as collateral. Mortgage signing and registration were still pending at disclosure; the drawdown schedule, interest rate and maturity were not disclosed.
Use of funds
Develop the T204-0153 site in Nanshan, Shenzhen