CNCB to repay debut loan after covenant waiver struggles

Hong Kong_flag_adobe_12May_575
By Pan Yue
07 Sep 2020

CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.

The firm is aiming to pay back the loan by the end of the month, according to bankers.

CNCB sent out waiver requests in July, asking for consent from banks to skip the June and December testing of its interest rate coverage ratio. It was required to gain ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial