#JPMorgan
JPMorgan may issue $1.1 billion in loans to troubled Chinese developers
Investment bank JPMorgan Chase is in talks to provide a three-year, HK$8.95 billion ($1.1 billion) loan to two troubled Chinese real estate developers engaged in restructuring, Bloomberg writes.
Unicorn Bay Ltd., a joint venture formed by defaulted developers Logan Group Co. and KWG Group Holdings Ltd., needs a loan that will be backed by a villa project in Hong Kong called The Corniche. The annual interest rate on a new loan can range from 10-15%.
