Sun Hung Kai Properties Limited (SHKP) today signed a HK$20 billion five-year syndicated term and revolving credit facility. The facility received overwhelming support, attracting a broad spectrum of 16 lenders and expanding from an initial amount of HK$5 billion to more than HK$26 billion at the arrangers’ co-ordinating stage.

SHKP Chairman and Managing Director Raymond Kwok said: “We are encouraged by the strong participation, which reflects the financial market’s strong confidence in SHKP and in Hong Kong’s future. We are grateful that our commitment to developing high-quality properties, along with our trusted premium brand, continues to be widely recognized by homebuyers, tenants, shoppers and the investment community.”

The facility’s proceeds will be strategically allocated. A portion will be used to refinance some of the Group’s existing debts, while the remainder will serve as working capital to support its business operations and developments, consistent with the group’s disciplined approach to prudent financial management.

Leveraging its premium brand, the Group has achieved fast asset turnover in its property development business even as the global economy remains shadowed by the ongoing conflicts in the Middle East and energy shocks. With the completion of several integrated projects, including the International Gateway Centre (IGC) in Hong Kong and ITC in Shanghai, the Group is also set to grow its recurring income base, and achieve substantial and stable recurring income.

As part of an eight-million-square-foot commercial hub in West Kowloon, IGC sits above the High Speed Rail West Kowloon Terminus and is seamlessly connected to Kowloon Station on the Airport Express. This unrivalled “rail+air” connectivity makes it an ideal base for major corporations expanding into the Mainland and global markets, helping position West Kowloon as “Central 2.0”. In addition to its strategic location, IGC boasts world-class sustainable features, having achieved ten major green building certifications or pre certifications under LEED, BEAM Plus, WELL, and others. It is also the first office development in the Greater Bay Area to receive the BREEAM International New Construction “Excellent” rating. 

The Artist Square Towers, also in West Kowloon, is expected to be completed in 2027. Enhanced by extensive green open spaces, spectacular Victoria Harbour views, and the globally renowned West Kowloon Cultural District, West Kowloon is fast becoming Hong Kong’s future-focused international business district, where commerce, arts, culture, sustainability and retail converge. 

SHKP continues to hold the highest credit ratings among property developers in Hong Kong, with an A1 rating from Moody’s and an A+ rating from S&P Global Ratings, both with stable outlooks.

The facility is backed by:

1. Bank of China (Hong Kong) Limited
2. DBS Bank Ltd.
3. The Hongkong and Shanghai Banking Corporation Limited
4. Oversea-Chinese Banking Corporation Limited
5. Agricultural Bank of China Limited Hong Kong Branch
6. Hang Seng Bank Limited
7. Industrial and Commercial Bank of China (Asia) Limited
8. Bank of Communications (Hong Kong) Limited
9. Fubon Bank (Hong Kong) Limited
10. Mizuho Bank, Ltd.
11. Sumitomo Mitsui Banking Corporation
12. BNP Paribas
13. China Minsheng Banking Corp., Ltd. Hong Kong Branch
14. Chong Hing Bank Limited
15. Standard Chartered Bank (Hong Kong) Limited
16. United Overseas Bank Limited