Press Releases

(Hong Kong, 18 October 2021) K. Wah International Holdings Limited ("KWIH" or "the Group") (stock code: 00173) announced today that it has recently signed an oversubscribed HK$8 billion revolving credit and term loan facility (the “Facility”) with a consortium of 11 banks, representing the banking community’s full confidence in the Group's solid financial profile and development prospects.

Guaranteed by KWIH, the Facility is borrowed by its wholly-owned subsidiary, K. Wah Financial Services Limited. The Facility consists of four tranches, including a 4-year HK$2 billion revolving credit and HK$2 billion term loan, as well as a 5-year HK$2 billion revolving credit and HK$2 billion term loan.

The proceeds of the Facility will be partially utilized to refinance the drawn portion of the existing syndicated loan facility maturing next year in January, and the balance will be used for the Group’s general corporate funding requirements.

Paddy Lui, Executive Director of KWIH, said, “I would like to thank the banking community for their tremendous support to KWIH. The business environment in Hong Kong remains challenging due to the COVID-19 pandemic. The Facility shows the banking community’s strong vote of confidence in the Group’s development and continuous growth. The Facility will not only maintain the Group’s available financial facilities and lower our interest cost, but also extend our debt maturity profile, thus enhancing our financial flexibility and financing capabilities.”

The Group has been focusing on property development in Hong Kong and major cities in the Pearl River and Yangtze River Deltas. We have been in Shanghai, Nanjing and Suzhou, etc. within the Yangtze River Delta, as well as Guangzhou, Dongguan and Jiangmen in the Pearl River Delta for long. In recent years, China has been promoting the development of the Greater Bay Area and the integrated regional development of the Yangtze River Delta. The Group will continue to strengthen its presence in these regions by actively exploring investment opportunities there, enhancing K. Wah as a leading premier developer.

“The Group will continue to adhere to its prudent financial strategy to maintain sufficient capital and cash flow. At the same time, we will continue to closely monitor changes in the property markets in Hong Kong and Mainland China, and timely replenish land with development potential through various methods to inject new impetus into our sustainable business development,” Lui added.