Distressed Chinese developers Logan Group Co. and KWG Group Holdings Ltd. have been sounding out investor interest in a potential plan to refinance a $1.05 billion private loan secured by a luxury residential project in Hong Kong, according to people familiar with the matter.
The firms are seeking to lower borrowing costs with the new potential deal, the people said, asking not to be identified discussing private matters. The existing facility, backed by the upscale Corniche project and signed in August 2024, carries an initial annualized yield of up to 13%, with a 30-month term and two optional six-month extensions.