Bloomberg.com, 12 May 2009, Katrina Nicholas
May 12 (Bloomberg) -- China Huaneng Group, the nation’s biggest power producer, is in talks with 10 banks to refinance a S$2.25 billion ($1.54 billion) loan it obtained from six lenders last year, a person familiar with the matter said.
Borrowing costs soared last year after the September collapse of Lehman Brothers Holdings Inc. shuttered credit markets and banks hoarded cash to cope with more than $1.4 trillion of losses and writedowns.
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