Hong Kong’s Top Developer Seeks $640 Million Loan After Hiatus

Hong Kong’s largest developer Sun Hung Kai Properties Ltd. is seeking a loan of at least HK$5 billion ($640 million), returning to the market after skipping its annual refinancing last year.

Sun Hung Kai’s latest facility will carry a five-year tenor, with a potential for upsize depending on banks’ responses, according to people familiar with the matter. The developer, which primarily builds and operates properties in Hong Kong and mainland China, typically seeks syndicated loans annually and has rarely skipped raising them over the past decade.