Canvest cans covenants for first six months of HK$2bn syndicated loan

By Pan Yue
18 Jun 2020

Canvest Environmental Protection Group Co, a Hong Kong-based waste-to-energy company, has returned to the loan market for a HK$1.97bn ($251.6m) unsecured deal. In an unusual move, the firm will postpone its covenant tests for the first six months. Pan Yue reports.

Standard Chartered is the sole mandated lead arranger and bookrunner, according to bankers.

The three year loan amortises over 2.86 years. It offers a margin of 230bp over Hibor. Banks committing more than HK$350m can join the top level with an all-in of 260bp, those committing between HK$250m ...

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