Chinese builders Logan, KWG seen near private refinance deal on US$1.3b The Corniche loan

Cash-strapped Chinese builders Logan Group and KWG Group Holdings are close to signing a private loan to refinance a HK$10.2 billion (US$1.3 billion) facility that backed the development of luxury property The Corniche in Hong Kong, according to people familiar with the matter.

The borrowing, arranged by JPMorgan Chase, is likely to be signed with a group of investors and bondholders as early as this week, according to sources who asked not to be named.

Source: TRADE FINANCE