Wanda nears deal for loan facility to pay investors

The property management company told the investors that several banks have committed to a combined amount of more than 10 billion yuan (US$1.4bil) of loans. — Bloomberg

SHANGHAI: Dalian Wanda Commercial Management Group Co has told some investors that a loan that could be used to pay some pre-initial public offering (IPO) investors in one of its units is close to being finalised, according to people familiar with the matter.

The property management company told the investors that several banks, including Shanghai Pudong Development Bank Co, have committed to a combined amount of more than 10 billion yuan (US$1.4bil) of loans, the people said, citing private conversations.