GRAND MING(01271.HK): Secures Waiver for Breach of Financial Covenants in Respect of HK$4.375 Billion Bank Loans
NewTimeSpace News: Grand Ming Group Holdings Limited (01271.HK) announced that the Group has successfully obtained waivers from certain lenders in respect of breaches of several financial covenants under its loan facilities, covering bank loans of approximately HK$4.375 billion, accounting for 88.4% of the total outstanding principal of HK$4.950 billion under the loan facilities. The relevant lenders will not demand immediate repayment of such loans by reason of the breaches.
NewTimeSpace News: Grand Ming Group Holdings Limited (01271.HK) issued an Inside Information Announcement dated 6 July 2026. As at 30 June 2026, the total outstanding principal under the loan facilities stood at approximately HK$4.950 billion.
The Group has successfully secured waivers from certain lenders in relation to the covenant breaches, covering aggregate bank loans of around HK$4.375 billion, equivalent to 88.4% of the total outstanding principal under the loan facilities. The lenders will not require the Group to repay the relevant bank loans forthwith on account of the breaches, and the Group will repay the principal and interest of the loans in accordance with the original scheduled repayment dates.
The Group will continue to negotiate and seek waivers from the remaining lenders. As at the date of this announcement, no demand for immediate loan repayment has been received from any lender, and the existing loan facilities remain available for drawdown.
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