4 Kai Tak to break the loan? Hainan Airlines: adequate funds
HNA Group earlier to more than 27 billion yuan to vote in four German land, foreign news quoted, involving more than 10 billion yuan by eight banks approved short-term financing, half of the banks do not intend to renew, but the HNA response, Have sufficient funds to support project development.
Ground: 4 transactions have been completed
HNA Group started a total of 27.2 billion yuan last year, has invested four Kai Tak residential land, and borrowed from the bank about 11.67 billion yuan (1.5 billion US dollars) of short-term transition loans. Bloomberg quoted the news that four of the eight banks involved were not to refinance the loan, and that the bank would decide whether to continue to provide financing depending on the terms of the loan.
Among them, the first $ 3.5 billion short-term loan, which will expire in November, involves the first piece of land in Hong Kong’s first Kai Tak No. 1K area.
There are two reports that three of the three banks are not planning to postpone the loan, while the remaining three land loans will be in January next year, February and June due.
HNA Group’s HNA International and Hong Kong International Construction Investment (00687) No positive response Yes No Bank intends not to renew the loan, but the company’s bank loan group has not changed, there are sufficient bank support, stressed that the company’s financial health is good , There is sufficient funds to support the development of the project.
The Lands Department has replied that the transactions of the four sites have been completed and that the land grant clause also stipulates that the project should be completed within the time limit of the Building Statute and that if the developer is not able to complete it as scheduled, the application shall be extended to the Lands Department Construction period and payment of premium.
Industry: land prices rise support bank financing
Lin Haowen, senior director and appraiser and advisor of the company, said that in the past year, property prices and land prices have risen, and the land can support banks to grant the corresponding loans. I believe that even if there are individual banks to withdraw, there is still a chance to find Other banks grant financing, up to the cost of interest or increase, I believe that the financing problem will eventually be resolved.
At the same time, Hainan Airlines Group itself has a large number of assets, investment in the amount involved only a small part of the company’s assets, even if not financing, I believe there are other channels to support the development of the project,