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UOB Reportedly in Talks with Private Credit Investors, Hoping to Shun SHIMAO GROUP $10B Loan
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Singapore-based United Overseas Bank (UOB), a creditor bank of SHIMAO GROUP (00813.HK), is in talks with private credit investors to offload a $10 billion loan due 2025, Bloomberg quoted sources as saying. SHIMAO GROUP borrowed the loan in 2022, and it will mature on 30 September 2025. The loan is guaranteed by the Beacon Peak complex in Kowloon Tong, Hong Kong. SHIMAO GROUP is looking to sell assets to repay the debt. The Company put 13 units of Beacon Peak for sale this month, according to sales documents. As of 18 January, 3 of the units had been sold for between $28 million and $37 million, records showed. However, that is still a long way from the amount of the loan. AAStocks Financial News |
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