Builders Logan, KWG Set to Secure $800 Million Loan Refinancing

Logan Group Co. and KWG Group Holdings Ltd.plan to refinance a $1.05 billion private loan secured by a luxury residential project in Hong Kong, according to people familiar with the matter, as the distressed Chinese developers seek to lower borrowing costs.

The two are in the process of securing a new $800 million facility that will be backed by the Corniche complex, said the people, who asked not to be identified discussing private matters. The deal could be signed as early as November, when a 15-month make-whole clause is due to end, the people added. Typically, if the ...