Bloomberg News

Beijing Enterprises Said to Sign HK$1 Billion Loan for Toll Road

November 30, 2011

Nov. 30 (Bloomberg) -- Beijing Enterprises Group Co. signed a HK$1 billion ($128 million) three-year club loan with Bank of East Asia Ltd., DBS Bank Ltd., and United Overseas Bank Ltd. yesterday, said a person familiar with the matter.

Wing Lung Bank was planning on joining the facility, another person with knowledge of the deal said on Oct. 3. The Hong Kong bank later decided against participating, said the person who spoke today.

Bank of East Asia, DBS and UOB committed equal amounts to the loan, said the person, who asked not to be identified because the details are private.

The company is paying a so-called all-in fee of about 275 basis points more than the Hong Kong interbank offered rate, said the person. Proceeds of the loan will be used for the acquisition of a toll road related asset.

--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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