Hong Kong housing, urban renewal groups in rare loan talks

The two groups’ interest in syndicated loans comes amid a slump in Hong Kong’s residential and commercial real estate market that has increased pressure on the city’s finances. — AFP

TWO Hong Kong bodies that work closely with the government are in rare talks with banks in the financial hub for syndicated loans, according to people familiar with the matter.

The Hong Kong Housing Society and the Urban Renewal Authority are in initial discussions with banks over possible loans, said people familiar with the matter, asking not to be identified discussing non-public matters while details of the loans, including the facility sizes and their tenors, are still under negotiation.