Power Assets seals HK$37bn loan

By Rashmi Kumar
13 Jan 2014

Power Assets Holdings signed its jumbo HK$37bn ($4.7bn) three year loan on Friday, January 10, as part of its fundraising to finance the spin off IPO of Hong Kong Electric Investments, which is now underway.

The loan was taken out by two different entities: HK$28.3bn by Hong Kong Electric Company (HEC) and HK$8.7bn by Hong Kong Electric Investments Limited (HKEIL), according to a banker on the deal.

Each portion was in turn split into Hong Kong dollar and US dollar tranches, with ...

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