Victory City’s debt woes build

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By Pan Yue
12 Mar 2021

Chinese textile company Victory City International Holdings’ financial predicament has taken a turn for the worse as it revealed previously undisclosed outstanding debt at its subsidiaries this week.

The company’s debt problems started in December last year, when it missed a principal payment of around HK$290m ($37m) on a syndicated loan raised in 2017, according to a filing with the Hong Kong Stock Exchange at the time. The original transaction was a five year loan split ...

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