According to reports, Sun Hung Kai Properties is seeking at least HKD 5 billion in a five-year loan

According to a report by Bloomberg citing sources, Sun Hung Kai Properties (00016.HK) is seeking at least HKD 5 billion in a five-year loan, with the possibility of increasing the loan amount depending on the banks' responses.

A spokesperson for Sun Hung Kai Properties declined to comment on the report. The company's stock price opened up 0.42% today (3rd) and the gains have since expanded, reaching a high of HKD 123.2. It is currently reported at HKD 122.7, up 2%, with a trading volume of 4.2167 million shares, involving HKD 515 million.

The report states that Sun Hung Kai Properties typically seeks syndicated loans every year, with few exceptions in the past decade, but did not engage in financing last year. It is understood that the company's goal is to complete the transaction by the end of March, and negotiations with lenders are still ongoing, with loan terms potentially subject to change