IFC 2 gets finance

Central Waterfront Property Development has closed a HK$7 billion ($897 million) syndicated term loan that will finance the construction of a massive new tower block on Hong Kong island. The borrower is a consortium made of leading Hong Kong companies. Its shareholders are Sun Hung Kai Properties (SHKP) (which owns 47.5%), Henderson Land development ( which owns 32.5%), Hong Kong and China Gas (which owns 15%) and Bank of China Group Investment (which owns 5%)