Hong Kong’s West Kowloon arts hub secures HK$3 billion, 10-year loan facility

The authority managing Hong Kong’s West Kowloon arts hub has averted a funding crisis after obtaining a longer-than-usual 10-year loan facility of HK$3 billion, which comes in addition to a US$1 billion (US$383.8 million) bond sale programme announced earlier. The financing would provide a much-needed lifeline to the West Kowloon Cultural District Authority in the coming decade before its residential property development could start to generate income, board chairman Bernard Chan said on...