Loans may be tough to come across for property developers these days, but not so if you're building the happiest place on earth. Several developers in Shanghai have secured syndicated loans of over 20 billion yuan from a number of Chinese banks. A chunk of the financing will go toward building Shanghai Disneyland.

In a loan deal signed on Tuesday, the Shanghai-based Shidongkou power plant project, Baoshan Luodian Residentials, and Shanghai Disneyland sealed syndicated loans of over 20 billion yuan, with Shanghai Disneyland securing 12.9 billion yuan of the total. The deals came under a framework agreement between developers and a consortium of 19 banks and financial institutions, led by China Development Bank, Shanghai Pudong Development Bank and the Bank of Communications. Syndicated loans have been increasingly used in China’s infrastructure projects.

Zhang Zhongde, vice president of China Construction Bank, Shanghai Branch said, "For mega-projects like these, a huge investment is needed, so one bank alone is not enough, regardless of how big it is."

Shanghai Disneyland’s operator, Shanghai Shendi Group and Walt Disney have said the initial investment is estimated to be 24.5 billion yuan, with hotels and additional facilities costing another 4.5 billion yuan. The investment amount will be split between Walt Disney and Shendi Group, with Disney holding 43 percent. The deal came just one year after construction began on the theme park, which is scheduled to open in 2015. Shanghai has 95 mega construction projects under way this year, with total investments of more than 1 hundred billion yuan.

vivi笔记：

property developers：房地产开发商
syndicated loans：银团贷款
loan deal：贷款协议
power plant：发电厂
framework agreement：框架协议
financial institutions：金融机构
Bank of Communications：交通银行
mega-projects：大型项目

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