, Hong Kong

United Energy in a project cooperation agreement with China Development Bank Corporation

The 5-year agreement has a target size of US$5 billion.

According to a statement, the Company is pleased to announce that on 26 October 2012, it entered into a project cooperation agreement with China Development Bank Corporation Hong Kong Branch  (“CDBHK”) for a period of five years from the date of such project cooperation agreement with target size of US$ 5 billion in respect of the acquisition of the oil and gas projects of the  Group (the “Agreement”). The Agreement refreshes the cooperation agreement signed with CDBHK on 18 December 2010.

During the period of the Agreement, the Group agrees to take CDBHK as its preferred financing partner and CDBHK agrees to provide the Group's projects with financing supporting services including consultancy and planning.

CDBHK also agrees to give preferential consideration to financing applications in respect of the Group's projects. Any financing to be provided under the Agreement may be by way of bilateral or syndicated loans arranged by CDBHK. China Development Bank Capital Co., Ltd., a wholly-owned subsidiary of China Development Bank, will closely cooperate with the Group in relation to equity investment opportunities.

The actual financing terms and conditions and the loan amount for specific projects will be subject to the contract signed by both parties and corresponding approvals and loan documentations. 

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Property sales fell by almost 21% in June
Over 6,290 sale and purchase deals for all units were received for registration.
High-street shop vacancy rises to 16.5% in Q2 22
Amongst core districts, Tsim Sha Tsui had the biggest vacancy rate.   High-street shop vacancy rose 1.3 percentage points from Q122 to hit 16.5% in Q2 22, data from CBRE showed.   The increase in vacancy was likely due to some landlords, who are under limited financial pressure, opting to leave units vacant rather than renting them out.   This practice was most evident in Tsim Sha Tsui and Mong Kok where vacancy rates were the highest, at 23.2% and 18.9%, respectively.   Whilst vacancy rose during the quarter, rents remained flat. According to CBRE, rents were unchanged from Q122 because “cash-rich landlords with strong holding power prevented some units from transacting at lower rents this quarter.”   In addition to rents being unchanged, leasing volume also increased in Q2, signalling an improvement in the retail property sector.   “Improved retailer sentiment underpinned an increase in transaction volume, although many deals signed this quarter involved short-term leases,” CBRE commented.