Deutsche Bank Seeks to Buy Part of $1.3 Billion Corniche Loan

Deutsche Bank AG has approached several existing lenders to buy a stake in a HK$10.2 billion ($1.3 billion) project loan backing a luxury-property development in Hong Kong, according to people familiar with the matter.

The German investment bank offered around 96 to 97 cents on the dollar for a piece of the facility maturing August that financed the construction of The Corniche, said one of the people familiar who asked not to be identified as the deal is private. No transaction has taken place, the person added.

The Corniche

Photographer: Lam Yik/Bloomberg

Deutsche Bank declined to comment when contacted Friday.

The developers and owners ...