Lifestyle International Scrambles to Refinance HK$6.75 Billion Sogo Loan, Still Short HK$2 Billion
Updated
Updated · Bloomberg · May 21
Lifestyle International Scrambles to Refinance HK$6.75 Billion Sogo Loan, Still Short HK$2 Billion
1 articles · Updated · Bloomberg · May 21
Summary
Less than a month before the loan matures, Lifestyle International still needs about HK$2 billion in bank commitments to complete refinancing of HK$6.75 billion tied to Hong Kong’s Sogo department stores.
Four months of talks with lenders have yet to close the gap, leaving the retailer in last-minute negotiations over one of the city’s best-known commercial assets.
The refinancing pressure reflects a broader property downturn in Hong Kong that has pushed more companies into urgent debt talks as funding conditions stay tight.