Tianjin DEvelopment Holdings, the investment arm of the Tianjin municipal government, is seeking a term loan of 2 billion HK dollars (257 million US dollars) to finance expansion, The Standard reported, citing market sources. The five-year facility is likely to be priced at below 50 basis points over the Hong Kong interbank offered rate, or HIBOR, since the red-chip conglomerate has completed its financial restructuring, said the paper. "The proceeds were used to repay much of its previous debt," the source said. HSBC, Standard Chartered, Calyon Corporate and Investment Bank, Bank of China (Hong Kong), and DBS Bank are among institutions that are interested in submitting bids for the deal, sources said. Tianjin Development operates businesses ranging from ports, wineries, roads and utilities, to elevators, escalators, and gas fuel distributors. It is also involved in real estate development.