CK Property prices bumper $7.1b loan

Demand outstrips supply for Li Ka-shing-backed Cheung Kong Property's jumbo loan as banks shrug off nagging Chinese real estate worries.

Elsewhere, embattled commodities trader Noble Group bags its first commitment from ING.

The Hong Kong property developer secured the deal with a consortium of international, Chinese and local banks; the company cited "challenging" market conditions in mainland China and Hong Kong as 2024 profits fell 25%.

Shenzhen Metro Group is the Chinese property giant's largest shareholder with the move coming after Vanke said it could make a loss of up to Rmb45bn in 2024.

BlackRock, Global Infrastructure Partners and Terminal Investment will control the two ports in the Panama Canal; the deal includes ports in Asia, Australia, Europe, and the Middle East, but not in Hong Kong or mainland China. CK Hutchison's co-managing director Frank Sixt said the deal "is purely commercial in nature".

The Hong Kong firm believes the move will bring a more "diverse shareholder base" and assist in building its profile; meanwhile the firm has helped acquire wind farm assets in the UK.