07:27 AM EDT, 05/31/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) is working to arrange a three-year loan of about 8.95 billion Hong Kong dollars ($1.14 billion) for Chinese builders Logan Group and KWG Group Holdings, Bloomberg News reported Friday, citing unnamed sources familiar with the matter.

According to Bloomberg, sources said the facility will be backed by a luxury home project in Hong Kong and could have an annual interest rate of 10% to 15%. The loan details remain under negotiations and subject to changes, the sources added.

JPMorgan Chase ( JPM ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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