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Tuesday, June 9, 2009

CapitaLand arranges credit lines of US$3.7b

SINGAPORE: CapitaLand, South-East Asia’s biggest developer, said yesterday it has arranged for credit lines of up to 25 billion yuan (US$3.7bil) from two major Chinese banks to fund its China projects.

Bank of China and Industrial and Commercial Bank of China will provide the loans to the Singapore developer.

CapitaLand also said it “soft launched” a retail mall in Beijing on June 5 and that it would build an integrated development in Ningbo City called Raffles City Ningo that will comprise a mall, offices and serviced residences.

By Reuters

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