Economy

Disney Shanghai gets loan from Chinese banks

(Agencies)
Updated: 2011-05-29 08:16

Twelve Chinese banks have signed a syndicated loan deal with Shendi Group, Walt Disney Co's local partner, for the construction of the Shanghai Disneyland theme park, the Xinhua News Agency reported late on Friday.

It did not mention how big the loan was but said the lead lenders were China Development Bank, Shanghai Pudong Development Bank, Bank of Communications.

Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank and Bank of China are co-leads of the loan. Other participating banks include China Exim Bank, Bank of Shanghai, CITIC Bank, Huaxia Bank and Shanghai Rural Commercial Bank.

Disney's first theme park in mainland China and its third in Asia broke ground on April 8 and will cost 24.5 billion yuan ($3.8 billion).