China's Agile Property says in talks with banks to extend bridge loan

2014-10-14

Oct 13 (Reuters) - China's Agile Property Holdings Ltd is in talks with banks to extend a remaining bridge loan, the company said on an analyst briefing call on Monday.

Shares in the Hong Kong-listed property developer slumped by more than a fifth as trading in the stock resumed following news last week that it withdrew a rights issue and that its chairman Chen Zhuo Lin had been required by the Kunming City prosecutor to stay at "a designated residence" since late on Sept 30.

HSBC, Standard Chartered and Hang Seng Bank provided a $475 million 8-month loan to Agile in April that expires on Dec. 8, according to Thomson Reuters LPC data.