HTIL seeks HKD6 billion loan

30 Nov 2004

According to reports in the Hong Kong business press Hutchison Telecommunications International Limited (HTIL), the newly listed emerging market telecoms arm of Hutchison Whampoa, is seeking a HKD6 billion syndicated loan to refinance borrowings made before its IPO. The loan is expected to cost HTIL dear, with some analysts predicting that it may have to pay more than 100 basis points above the Hong Kong interbank rate, given that it will be assessed as a stand-alone business without any linkage to its parent.