For Immediate Release

Date: August 3, 2001

Sun Hung Kai Properties (SHKP) announced today that it successfully completed a HK$7.5 billion revolving credit / term loan facility with a consortium of 22 leading local and international banks. The facility was well received by the market and was significantly over-subscribed from the initial facility size of HK$5 billion. As a result of the overwhelming response, SHKP has decided to increase the Facility to HK$7.5 billion.

The facility, arranged through Sun Hung Kai Properties (Financial Services) Limited, has a maturity of seven years and carries an interest margin of 0.465 per cent over HIBOR. It will be available for drawing on a revolving basis for the initial 48 months, after which it will convert to a term loan. SHKP will use the proceeds for general working capital requirements including financing of new capital expenditure and refinancing existing short-term loans. The company continues to maintain a low gearing, with substantial committed undrawn facilities on standby. This new facility will allow SHKP to extend its debt maturity profile in keeping with its financial strategy.

The loan facility has the backing of the following major local and international financial institutions:

Co-ordinating Arrangers

BOCI Capital Limited
Hang Seng Finance Limited
Industrial and Commercial Bank of China (Asia) Limited
Sumitomo Mitsui Banking Corporation
The Hongkong and Shanghai Banking Corporation Limited
Standard Chartered Bank
Mizuho Financial Group (FUJI/IBJ)
The Sanwa Bank Limited, Hong Kong Branch
SG Asia
The Tokai Bank Limited, Hong Kong Branch
Wing Lung Bank, Limited

Lenders

Arrangers
Bank of China, Hong Kong Branch
Hang Seng Bank Limited
The Industrial and Commercial Bank of China, Hong Kong Branch
Sumitomo Mitsui Banking Corporation
The Hongkong and Shanghai Banking Corporation Limited
Standard Chartered Bank
Mizuho Financial Group (FUJI/IBJ)
The Sanwa Bank Limited, Hong Kong Branch
SG
The Tokai Bank Limited, Hong Kong Branch
Wing Lung Bank, Limited

Co-Arrangers
The Bank of Tokyo-Mitsubishi, Ltd.
Shanghai Commercial Bank Ltd.
The Bank of East Asia, Limited
Dresdner Kleinwort Wasserstein
Oversea-Chinese Banking Corporation Limited

Lead Managers
Bank of China, Macau Branch
The China & South Sea Bank Limited, Hong Kong Branch
Nanyang Commercial Bank, Limited
The Yien Yieh Commercial Bank Ltd., Hong Kong Branch
Kincheng Banking Corporation, Hong Kong Branch
Tai Fung Bank Limited, Macau

© Copyright 1996-2012 irasia.com Ltd. All rights reserved.

DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website. TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website.