Xinyi Glass removes non-financial covenant

By Pan Yue
24 Oct 2018

Xinyi Glass has dropped a non-financial covenant on its HK$750m ($96m) borrowing, which was launched into general syndication in August.

The covenant requires the company not to declare any dividends in cash to shareholders in excess of 50% of its consolidated net profit after tax in any financial year, and not to declare or distribute any dividends after an event of default, according to a banker whose firm ...

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