Bloomberg News

Beijing Enterprises Said to Offer Fees on HK$1 Billion Loan

September 20, 2011

Sept. 20 (Bloomberg) -- Beijing Enterprises Group Co. is offering to pay an all-in fee of 270 to 280 basis points more than the Hong Kong interbank offered rate on a HK$1 billion ($128 million) loan, a person familiar with the matter said.

The facility will be a three-year club loan and proceeds will be used for the acquisition of a toll road related asset, said the person who asked not to be identified because the details are private.

Hong Kong-based spokeswoman for Beijing Enterprises Holdings Ltd., a unit of Beijing Enterprises Group, Louise Chen, said the group was borrowing in Hong Kong to take advantage of lower interest rates. She declined to comment on the details of the financing.

--Editor: Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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