CK Property prices bumper $7.1b loan

Cheung Kong Property sets an better-than-targeted all-in price on its new jumbo loan of just Libor plus 110bp as banks pile in.

CK Property prices bumper $7.1b loan

Li Ka-shing-controlled Cheung Kong Property has priced its jumbo HK$55 billion $7.1 billion loan at 110 basis points over Libor all-in, according to two sources familiar with the matter.

The new loan is coming slightly under what was guided by the company, as it had previously capped all-in pricing at Libor plus 115bp.

Term sheets for the three-year bullet loan have been sent to the banks and they can choose to...

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