China Resources ponders HK$3.5 billion financing

Pricing levels continue to be tough but lack of deals forces banks'' hands.

Progress has been painstakingly slow on the self-arranged HK$3.5 billion US$450 million fundraising for China Resources Holdings Co. Bank meetings took place over two weeks ago but the awarding of the official mandate continues to be delayed.

The borrower has compiled a nine strong group that is rumoured to comprise Agricultural Bank of China, Bank of China, Bank of Communications, BNP Paribas, Bank of Tokyo-Mitsubishi, HSBC, Hang Seng Bank, Industrial Commercial Bank of China and...

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