Shimao Group's 10 billion yuan bank loan has been extended for three years as part of the offshore debt restructuring

AASTOCKS
2025.09.12 08:45

According to a report by The Paper, Shimao Group (00813.HK) has obtained a three-year extension on a HKD 10 billion loan secured by the Beacon Peak property in Kowloon Tong, which is part of the company's offshore debt restructuring.

Shimao acquired the residential land at 9 Yan Ping Road, Kowloon Da Wo Ping for HKD 7.02 billion on September 29, 2015, with a total expected investment of HKD 12 billion to 15 billion. According to previous reports, all restructuring conditions for Shimao's offshore debt restructuring have been met, and approximately USD 11.5 billion of existing offshore debt is expected to be released and canceled. As for domestic debt, Shimao stated in June that it has been actively negotiating with other domestic lenders and creditors regarding loan extensions or restructuring.

Shimao's stock price opened 2.4% higher today (12th) at HKD 0.42 and reached a high of HKD 0.45, up 9.8%. It closed at HKD 0.425, an increase of 3.7%, with a trading volume of 237 million shares, involving HKD 101 million

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