Truly International Holdings (HKG:0732) entered into a HK$1.04 billion sustainability-linked loan agreement with multiple banks, including The Bank of East Asia (HKG:0023), OCBC Bank, and Hang Seng Bank (HKG:0011), according to a Wednesday filing with the Hong Kong bourse.
The 364-day facility can be extended to 36 months under certain conditions. The agreement includes a performance covenant, requiring Chairman Lam Wai Wah to retain at least 25% ownership and management control.
A breach could trigger a loan default, allowing lenders to demand repayment. Truly International will comply with HKEX disclosure requirements as necessary.
The LCD maker's shares were up by 2% in recent trading.
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