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MEDIA CENTRE
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 Hong Kong 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 ongoingCovid-19, Hong Kong property market has remained active. Emperor International is currently on track to launch its quality residential projects, including Central8, 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 optimize its investment portfolio and enhance its profitability and comprehensive strengths, in order to achieve mutually beneficial objectives.”
