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EMPEROR INT'L Reportedly Revises Debt Restructuring Plan, Seeks to Extend Bank Loan Term
EMPEROR INT'L (00163.HK) recently submitted a revised debt restructuring plan to certain lenders, seeking to extend the maturity date of its bank loans to 31 December 2027, Blo...
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EMPEROR INT'L Reportedly Revises Debt Restructuring Plan, Seeks to Extend Bank Loan Term
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EMPEROR INT'L (00163.HK)  +0.001 (+0.488%)   recently submitted a revised debt restructuring plan to certain lenders, seeking to extend the maturity date of its bank loans to 31 December 2027, Bloomberg quoted sources as saying.

Previously, EMPEROR INT'L disclosed in its annual results for the year ended March that, as of the end of March, it had $16.605 billion in bank loans that were overdue or in breach of certain terms, indicating default.

It is reported that the major creditor banks of EMPEROR INT'L have formed a coordination committee to negotiate the terms of the debt restructuring with the company. However, negotiations have been ongoing for several months, yet no agreement has been reached yet.

EMPEROR INT'L responded that homebuilders are facing overall industry pressure, and the company is no exception. Nevertheless, the company continued to operate as usual, and is negotiating with banks to amend loan terms. Normal financial procedures are currently being handled, emphasizing that the company's balance sheet remains healthy.
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