Retail in Asia

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Strong response for HKD2.6b loan, says Esprit

Esprit Holdings said it has received a strong response for a HKD2.6-billion five-year loan facility, with total commitments received equivalent to 2.5 times the original amount.

The Hong Kong fashion retailer said on Wednesday that commitments received from banks totalled HKD6.5 billion. The facility carried an interest rate of 0.65 percent per year over one-, two-, three- or six-month Hibor, and the proceeds would be used to finance the acquisition of the remaining stake in a Mainland China joint venture, it said.

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