HACTL squeezes deal-starved banks for low margin loan

19 Aug 2009

Hong Kong Air Cargo Terminals (HACTL) has invited banks to join a syndicated loan that will set a new pricing low for Hong Kong borrowers, ignoring complaints from lenders that margins have already fallen too far.

The blue-chip firm is looking to pay about 100bp over Libor for the facility, well below the 125bp all-in margin offered by local property developer HendersonLand on an HK$8bn syndicated loan that set an aggressive pricing benchmark in July.

HACTL ...

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