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Disney developers secure syndicated loan
By Richard Fu |
April 10, 2012, Tuesday
|
Online Edition
Online Edition
THE developers of Shanghai Disneyland secured a 12.9 billion yuan (US$2.04 billion) syndicated loan with a number of Chinese banks for the theme park's first phase of construction.
The deal was signed today in Shanghai as part of the city government's effort to advance the progress of some key infrastructure projects for this year. The Shidongkou power project also won a 4.8 billion yuan syndicated loan while a residential community project in Luodian, Baoshan District, obtained a 3.11 billion yuan loan today.
A syndicated loan is provided by a group of lenders and is structured and arranged by one or several banks known as arrangers.
Such loans have been increasingly used to fund the construction of major infrastructure projects.
The Shanghai Bureau of China Banking Regulatory Commission has said major projects, other than real estate projects, with a funding scale of more than 2 billion yuan should seek syndicated loans.
Globally, syndicated loans have become a key method in funding infrastructure construction and mergers and acquisitions, and it also provides a platform to connect banks and major projects in Shanghai, Vice Mayor Yang Xiong said today.
The first phase of Shanghai Disneyland, scheduled to open in 2015 in Chuansha in Pudong New Area, will cost 24.5 billion yuan. Construction began last April.
The deal was signed today in Shanghai as part of the city government's effort to advance the progress of some key infrastructure projects for this year. The Shidongkou power project also won a 4.8 billion yuan syndicated loan while a residential community project in Luodian, Baoshan District, obtained a 3.11 billion yuan loan today.
A syndicated loan is provided by a group of lenders and is structured and arranged by one or several banks known as arrangers.
Such loans have been increasingly used to fund the construction of major infrastructure projects.
The Shanghai Bureau of China Banking Regulatory Commission has said major projects, other than real estate projects, with a funding scale of more than 2 billion yuan should seek syndicated loans.
Globally, syndicated loans have become a key method in funding infrastructure construction and mergers and acquisitions, and it also provides a platform to connect banks and major projects in Shanghai, Vice Mayor Yang Xiong said today.
The first phase of Shanghai Disneyland, scheduled to open in 2015 in Chuansha in Pudong New Area, will cost 24.5 billion yuan. Construction began last April.
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