Hong Kong Finance Group Refinances HK$40 Million Loan

MT Newswires Live

Sep 22

Hong Kong Finance Group (HKG:1273) said its subsidiary HK Finance (PL) agreed to provide a HK$40 million loan to an existing borrower.

The new loan carries interest of 15% per year for 12 months from the Sept. 18 drawdown date, according to a Hong Kong bourse filing on Tuesday.

The loan is secured by a first mortgage over a residential property on Mount Austin Road in Hong Kong, valued at about HK$145 million as of Sept. 10.

Proceeds from the new loan will be used to fully repay a previous loan.

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