|Optimises Capital Structure to Fuel its Continued Business Development
HONG KONG, Mar 12, 2019 - (ACN Newswire) - Emperor International Holdings Limited ("Emperor International") (Stock code: 163) is pleased to announce the signing of a 5-year unsecured club loan facility agreement amounting to HK$2,600 million (the "Club Loan") with eight large-scale banks. The relevant proceeds will be used for refinancing its existing debts and general working capital purposes.
|(From left to right):Mr. Cai Chun Yan, Deputy General Manager, Bank of China Macau Branch,
Mr. Wang Feng, Chief Expert of Bank of Communications Company Limited and the Chief Executive of Bank of Communications Company Limited Hong Kong Branch, Dr. Albert Yeung, Chairman of Emperor Group, Mr. Jiang Xianzhou, Chairman and Executive Director, China Construction Bank (Asia) Corporation Limited and Mr. Adrian Li, Executive Director & Deputy Chief Executive, The Bank of East Asia, Limited
|As witnessed by Dr. Albert Yeung, Chairman of Emperor Group (6th from right, back row), Mr. Alex Yeung, Executive Director of Emperor Group (1st from right, back row), Mr. Benson Chu, Group Chief Financial Officer of Emperor Group (1st from left, back row) and representatives from the banks, Mr. Bryan Wong, Managing Director of Emperor Group (5th from right, front row) represented Emperor International and entered into the Club Loan agreement with the representatives from eight banks.
Riding on the well-established reputation of "Emperor", the participating banks of the Club Loan cover Hong Kong and Macau, which include Bank of China Macau Branch, Bank of Communications Co. Limited Hong Kong Branch, China Construction Bank (Asia) Corporation Limited, The Bank of East Asia, Limited, Luso International Banking Limited, The Hongkong & Shanghai Banking Corporation Limited, Hang Seng Bank Limited and OCBC Wing Hang Bank Limited.
Mr. Benson Chu, Group Chief Financial Officer of Emperor Group, said, "Following the club loan facility of HK$2,500 million initially secured in 2017, we are pleased to have the active participation from a number of large-scale banks once again this year. The banking industry's continued and dedicated support to Emperor International is a strong vote of confidence in our development prospects and calibre of the management, as well as a testament to the Group's sound capital position and prudent financial management. The Club Loan will provide the Group with abundant capital and effectively reduce its overall financing cost."
Mr. Donald Cheung, Executive Director of Emperor International, said, "The Group's property development projects in Hong Kong are gradually being rolled out as planned, including Peak Castle, luxurious low-rise detached houses in Siu Lam, Tuen Mun, the luxurious residential tower on Mosque Street, Mid-Levels, and luxurious houses in Tai Lam, Tuen Mun. In the meantime, three of the Group's property investment projects in Hong Kong and United Kingdom will step into the pre-leasing stage, all of which will provide Emperor International stable and promising returns. The Group will continue to identify potential and quality investment and development projects. We believe the Club Loan will help promote the sustainable development of the Group's business."
About Emperor International Holdings Limited
Emperor International is an investment holding company, which is principally engaged in property investments, property development and hospitality with property portfolio of over 5 million square feet in the Greater China and overseas. Under its tri-engine business model, Emperor International owns many investment properties in prime locations that generate stable recurrent income; runs many property development projects for earning visibility; and develops 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 Greater China. Emperor International has become one of the constituent stocks Hang Seng Corporate Sustainability Benchmark Index since September 2018. For more information, please visit its website: www.EmperorInt.com.
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Topic: Press release summary
Source: Emperor International Holdings Limited
Sectors: Daily Finance, Daily News
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