Claim: Lai Sun Development is a property developer in Hong Kong (which has a land mass of 1,111 km or 429 sq mi) had geared itself up heavily in order to finance the acquisition at the top of the market, and had taken on $5 billion in bank loans and issued bonds worth more than $2 billion.
Evidence: Lai Sun Development ("LSD") is a property developer in Hong Kong, public company listed on the Hong Kong Stock Exchange SEHK: established in 1987 by the textiles magnate Lim Por-yen. The territory has a land mass of 1,111 km (429 sq mi). The company had geared itself up heavily in order to finance the acquisition at the top of the market. It had taken took on $5 billion in bank loans and issued bonds worth more than $2 billion.