Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
NWD's HKD87.5B Refinancing Terms Require 100% Bank Support
Recommend 9 Positive 13 Negative 11 |
||||
|
||||
|
NEW WORLD DEV (00017.HK) is seeking HKD87.5 billion refinancing loans from banks, 87% of which has already received written commitments from banks, Bloomberg reported, citing sources. It is understood that, however, there is a clause indicating that the company must obtain 100% commitment, otherwise the transaction will be canceled. If NWD fails to gather 100% support by June 30, all collateral will be released and bank commitments will be canceled, according to internal documents. NWD needs to obtain consent from more than 50 banks to waive certain conditions of existing loans. If the group fails to complete it by June 30, banks may require immediate repayment of part of the existing loans. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
