Hong Kong-based real estate developer Logan Group has secured a loan of over $1 billion as part of its restructuring efforts. The loan, provided by a group of international banks, will help the company navigate its financial challenges and continue its operations.
Logan Group has been facing financial difficulties in recent years, including mounting debts and a slowdown in the property market. The company’s restructuring plan includes selling off non-core assets and focusing on its core business of property development.
The loan will provide much-needed liquidity for Logan Group to meet its financial obligations and fund future projects. It will also help the company strengthen its balance sheet and improve its financial health.
In a statement, Logan Group expressed gratitude to the banks for their support during this challenging time. The company remains committed to its long-term vision and is confident in its ability to overcome its current challenges.
The loan comes as a vote of confidence in Logan Group’s prospects and signals the company’s determination to weather the storm. With a solid financial foundation, Logan Group is well-positioned to capitalize on opportunities in the property market and drive future growth.
Overall, the loan provides a lifeline for Logan Group as it navigates through a challenging period in the real estate industry. The company’s restructuring efforts, combined with the financial support from international banks, will help ensure its continued success in the long run.
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