Press Releases

(Hong Kong－10 March 2015)－K. Wah International Holdings Limited (“KWIH” or the “Group”) (stock code: 0173) today announced the closing of a HK$3,300 million 5-year term loan and 4-year revolving credit facility (the “Facility”) with a consortium of 11 prime international and local banks. The Facility carries interest rates of HIBOR + 1.68% p.a. on the 5-year tranche and HIBOR + 1.52% p.a. on the 4-year tranche.

Guaranteed by KWIH, the Facility is borrowed by its wholly-owned subsidiary K. Wah Financial Services Limited. It is arranged by Bank of China (Hong Kong) Limited, DBS Bank Ltd., Hang Seng Bank Limited, The Hongkong and Shanghai Banking Corporation Limited, OCBC Wing Hang Bank Limited, Sumitomo Mitsui Banking Corporation and China Construction Bank (Asia) Corporation Limited.

Paddy Lui, Executive Director of KWIH, said that the Group is pleased with the overwhelming support received from the banking community, resulting in the upsize of the Facility.

"The positive response demonstrates a strong vote of confidence in our Group. The Facility is a timely arrangement mainly for refinancing a maturing facility. It also enhances our financial flexibility, allowing for a long-term sustainable development." Lui said.
 
"This year, KWIH will launch a number of projects, including projects along the railway lines in Hong Kong, the top-notch luxury projects in the city centre of Shanghai, and a few high quality projects in Pearl River Delta. Sticking to the principle of continuous asset turnover, KWIH will develop innovative and high quality products for the market. We will also continue to look for suitable investment opportunities in Hong Kong, Yangtze River Delta and Pearl River Delta in a disciplined manner." added Lui.

The syndicate group comprises the following banks and financial institutions:

Mandated Lead Arrangers and Bookrunners
Bank of China (Hong Kong) Limited
DBS Bank Ltd.
Hang Seng Bank Limited
The Hongkong and Shanghai Banking Corporation Limited
OCBC Wing Hang Bank Limited
Sumitomo Mitsui Banking Corporation
China Construction Bank (Asia) Corporation Limited

Lead Arrangers
Bank of Communications Co., Ltd, Hong Kong Branch
Industrial and Commercial Bank of China (Asia) Limited
Mizuho Bank, Ltd.
Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch