China Datang said to eye $644m loan after share pledge clause breach

China Datang said to eye $644m loan after share pledge clause breach

Hangzhou, China. Photo: Alessio Lin

A unit of a Chinese state-owned power company is seeking a HK$5 billion ($644 million) one-year loan that will refinance an earlier 2018 deal after the company breached a default clause, according to people familiar with the matter.