Gaw Capital Amends Hong Kong Towers Loan, Easing Default Risk

Hong Kong-based investment firm Gaw Capital Partners has amended an existing loan backing two office towers, according to people familiar with the matter, easing the risk of a default in the city’s battered property sector.

The original loan had been set to mature May 9 after the deadline was extended by a month from April as Gaw Capital and its lenders struggled to agree on a refinancing proposal.