Strengthen financial reserves to optimize property portfolio
(Hong Kong - 18 December 2017) Emperor Group (International) Limited (" Emperor International ")(Share number: 163) is pleased to announce the signing of a syndicated loan agreement with nine major banks for a total of HK $2.5 billion (" The Syndicated Loan "). The syndicated loan funds will be used for general operating purposes.
The nine major banks are the Hong Kong and Shanghai Banking Corporation Limited (" HSBC "), Hang Seng Bank Limited, Bank of China (Hong Kong) Limited, Industrial and Commercial Bank of China (Asia) Limited, China Construction Bank (Asia) Limited, Bank of Communications Limited, Chong Hing Bank Limited, Bank of East Asia Limited and Overseas Chinese Wing Hang Bank Limited Department.
"We are very pleased to receive an enthusiastic response from the nine major banks, which fully reflects their confidence in our business development and financial strength. The syndicated facility effectively reduces overall funding costs, enhances cash flow flexibility and accelerates business development," said Mr. Raymond Chu, Chief Financial Officer of King Group.
"This transaction marks an important milestone for King's International," said Mr. Anthony Cheung, executive Director of King's International. "By diversifying our funding sources, we will continue to identify promising and high-quality investment and development projects to provide the best returns to our stakeholders, including shareholders, bondholders and financial partners."
In October 2017, HSBC Asia Pacific Credit Research published a research report on a major unrated real estate bond issuer in Hong Kong. For the first time, it included King International with a "buy" rating. The key factors included the high quality investment property portfolio and recurring rental income growth, which represented a professional recognition of the quality of its financial credit.
About King Holdings (International) LTD
King's International is an investment holding company engaged in property investment, property development and hospitality businesses in Greater China and overseas, with a property portfolio totaling more than 5 million square feet. Under its three-tier business model, King International has a portfolio of investment properties in prime locations that generate stable recurring income; Operating multiple property development projects to drive profitability; And develop hotel services to generate strong recurring cash flow. With its efficient execution and keen market vision, King International is determined to become a leading developer in Greater China.
