A consortium of private credit and private equity firms including Davidson Kempner Capital Management and RRJ Capital have provided a $1bn private loan to Logan Group Co to allow the distressed Chinese property developer to refinance an exisiting credit facility, according to a report by Bloomberg.
The loan, which was arranged by JPMorgan Chase & Co, and finalised late Saturday, is a joint arrangement with KWG Group Holdings, and will be used to refinance an original HKD10.2bn ($1.3bn) due to mature on 25 August, according to Bloomberg data.