SHKP Quarterly

TheGroupsignsaHK$21,000millionsyndicatedcredit facility 集團簽署 210 億港元銀團貸款 Group Chairman & Managing Director Raymond Kwok (front, centre) with bank representatives at the syndicated credit facility signing ceremony 集團主席兼董事總經理郭炳聯（前排中）在銀團貸款簽署儀式上與銀行代表合照 The Group recently signed a HK$21,000 million syndicated credit facility with proceeds to be used as general working capital for business development in Hong Kong, and to refinance some short-term debts and extend their maturity. The facility was signed between Sun Hung Kai Properties (Financial Services) Limited and a consortium of 16 leading local and international financial institutions, guaranteed by Sun Hung Kai Properties Limited. It comprises a 30:70 split between term loans and revolving credit tranches with a maturity of five years at 65 basis points over HIBOR. An overwhelming response was received from the banking community with substantial over- subscription, resulting in significantly upsizing the facility from an initial amount of HK$5,000 million to HK$21,000 million. At the signing ceremony, Group Chairman & Managing Director Raymond Kwok said that the overwhelming response to the facility reflected the banks’ trust in the Group’s overall governance and prospects. Over the next five to six years, a number of new investment properties will be completed, including Harbour North, the 98 How Ming Street development, Shanghai ITC, Nanjing IFC and others, and the Group’s recurrent income and cash flow will continue to grow further. The existing land bank is sufficient for the Group’s development needs over the next five to six years. However, with a strong balance sheet, the Group will continue to seek land acquisition opportunities. Leveraging the reputable brand as well as corporate culture of continuous improvement and a ‘customers first’ philosophy combined with a seasoned management team, the Group’s leading competitive edge will be further reinforced. The Group currently has an A1 rating from Moody’s, and an A+ rating from Standard & Poor’s, with a stable outlook from both. Shanghai ITC 上海徐家匯國貿中心 Rendering 效果圖 Corporate News Vol 87 • Q1 2018 • SHKP Quarterly 26