CONFIDENTIAL # 3
17
(b)
Fund raising in Hong Kong
30.
The important role of Hong Kong as a loan syndication centre for China continued, as partly
A few
evidenced by the fund raising exercises undertaken by China in Hong Kong's domestic financial markets. recent examples of these activities are given in the table
below.
Syndicated loans arranged/or being arranged in Hong Kong in recent months
(extracted from press reports between May to July)
Borrower
Amount involved
Anyang Henan Colour Picture Tube Glass
US$95 million
Bulb Co.
Ltd.
Beijing Kunlun
US$63 million
Hotel Ltd.
Beijing Jing bo Hotel Ltd.
US$41.5 million
Beijing Tianpeng Co. Ltd.
US$27 million
Purpose
To finance a glass bulb manufacturing plant in Anyang.
To meet debt repayment.
To fund construction of the hotel.
To finance the construction of the Tianpeng Hotel
In addition, the Bank of Communications has reportedly arranged a number of loans totalling US$700 million to fund development projects in Shanghai.
G.F. 326
CONFIDENTIAL #
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