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Increases Financial Flexibility
Facilitates Future Business Development |
HONG KONG, Nov 15, 2021 - (ACN Newswire) - Emperor International Holdings Limited ("Emperor International" or the "Group") (Stock code: 163) is pleased to announce the signing of a 5-year unsecured club loan facility agreement amounting to HK$1,950 million (the "Club Loan") with nine local and international banks. The relevant proceeds will be used for general working capital purposes and refinancing its existing debts.
The participating banks of this Club Loan include The Hongkong and Shanghai Banking Corporation Limited, The Bank of East Asia, Limited, Bank of Communications (Hong Kong) Limited, Bank of China (Hong Kong) Limited, Hang Seng Bank Limited, OCBC Wing Hang Bank Limited, China Minsheng Banking Corp., Ltd. Hong Kong Branch, LUSO International Banking Ltd. and Cathay United Bank Company, Limited, Hong Kong Branch.
Mr. Benson Chu, Group Chief Financial Officer of Emperor Group, said, "I would like to express my sincere gratitude to the participating banks for their substantial support for this new Club Loan facility. Following the successful club loan facilities obtained in 2017 and 2019, we are pleased to secure once again a new 5-year unsecured club loan facility for the Group amid the current difficult market conditions. This reflects our strong banking relationship and sound financial strategy, as well as their confidence in Emperor International's positive outlook. This Club Loan will provide the Group with extra liquidity and lower our overall funding costs, ensuring financing flexibility and sustainability for future business development."
Mr. Donald Cheung, Executive Director of Emperor International, said, "In spite of the volatile economic environment and the ongoing Covid-19, Hong Kong property market has remained active. Emperor International is currently on track to launch its quality residential projects, including Central 8, Seaside Castle and the soon-to-be launched Shouson Hill project. The Group has already established a solid property development pipeline for the coming few years, which will provide Emperor International stable and promising returns. The Group will also continue to optimise its investment portfolio and enhance its profitability and comprehensive strengths, in order to achieve mutually beneficial objectives."
About Emperor International Holdings Limited
Emperor International is an investment holding company, which is principally engaged in property investments and property development, and operates hospitality services via its subsidiary, Emperor Entertainment Hotel Limited (stock code: 296), possessing a property portfolio of over 6 million square feet in the Greater China and overseas. Under its tri-engine business model, Emperor International owns and manages investment properties in prime locations that generate solid income; developing residential projects to drive earnings visibility; and operating hospitality services with strong recurrent cash flow. With its management execution strengths and market insight, Emperor International aims to be a key property player in the Greater China. For more information, please visit its website: www.EmperorInt.com.
Investor / Press Enquiry
Ms. Anna Luk
Group IR Director
Tel: +852 2835 6783
Email: annaluk@emperorgroup.com
Ms. Janice Au
Group IR Manager
Tel: +852 2835 6799
Email: janiceau@emperorgroup.com
Topic: Press release summary
Source: Emperor International Holdings Limited
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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