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Tuesday, 3 November 2020

HSBC participates in USD 2.2 bn loan for New Capital Business District

DEBT WATCH- China State Construction locks down USD 2.2 bn loan with HSBC, others  for new capital business district: HSBC participated in a USD 2.2 bn loan to China State Construction Engineering Corporation (CSCEC) to finance the construction of the business district of the new administrative capital, the bank said in its Future Cities report (pdf). The loan, which carries a tenor of 13.5 years, is backed by Chinese export credit insurer Sinosure. The bank is also financing Redcon Construction’s work on the new capital’s USD 500 mn Central Park, known as the “Green River” project.

CORRECTION- 3 November 2020 

An earlier version of this story incorrectly said that HSBC is solely providing the loan to CSCEC. 

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