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Agile Group secures HK$770M term loan

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Agile Group secures HK$770M term loan

Agile Group Holdings Ltd. landed a HK$770 million term-loan facility from unnamed financial institutions.

The facility carries a 36-month term with an annual interest rate of 3.90% plus the Hong Kong Interbank Offered Rate or the London Interbank Offered Rate under the ICE Benchmark Administration Ltd.'s administration.

The loan, guaranteed by certain subsidiaries of the company, is subject to, among other things, the group's majority shareholder, the Chen family, owning more than a 50% stake in the Chinese real estate developer.

As of Dec. 12, the Chen family collectively owns 66.54% of Agile's total issued share capital.