Property News · July 16, 2020

Cash-strapped developer Goldin seeks to raise another HK$8.7 billion in loans and sell Kai Tak site to pay piling debts


Goldin Financial Holdings, which staged a spectacular U-turn in 2018 from buying Hong Kong’s most expensive waterfront land, said it is actively looking for capital to repay a growing pile of debt, as its stock lost nearly 70 per cent in value since October.The company, controlled by billionaire Pan Sutong, said it has been “in active discussions” with creditors since March to repay its loans, and has come up with two solutions to refinance its debt, according to the developer’s filing to the…

Source : South China Morning Post
Read more…Cash-strapped developer Goldin seeks to raise another HK.7 billion in loans and sell Kai Tak site to pay piling debts

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