A consortium led by Gaw Capital Partners is seeking to refinance a HK$14.4 billion ($1.8 billion) loan backed by Hong Kong shopping centers, according to people familiar with the matter. The Hong Kong-based private equity firm aims to secure cheaper borrowing costs for a potential three-year facility. Discussions are ongoing and terms have not yet been finalized. The refinancing effort comes as Hong Kong's retail sales recovery remains uneven.
The loan is supported by a portfolio of shopping centers across Hong Kong, though specific properties were not disclosed. The consortium is exploring options in the current market environment where retail performance continues to show mixed results.
Sources noted that the refinancing discussions are still in progress and no final decisions on terms have been made. The potential three-year facility would replace the existing HK$14.4 billion loan.
This article was reported by Aileen Chuang, Apple Ka Ying Li, and Kari Soo Lindberg on October 26, 2026.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing