,Singapore

CDL settles HCP Chongqing Property loan for $288.59m

This is under the HCP HK Corporate Guarantee.

City Development Limited (CDL) Group has fully settled the obligation for the corporate guarantee given by the group in connection with the loan extended by a financial institution to HCP Chongqing Property Development (HK) Co. Limited.

The obligation under the HCP HK Corporate Guarantee totalled $288.59m (US$213.1m), including the interest.

"The settlement of the obligation is not expected to have a material impact on the earnings per share or the net tangible asset per share as well as the net gearing ratio of the Group for the financial year ending 31 December 2021," the company said in a statement.

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