Asia Standard Hotel Struggles to Refinance HK$1.36 Billion Loan After Evergrande Bond Losses
Updated
Updated · Bloomberg · May 19
Asia Standard Hotel Struggles to Refinance HK$1.36 Billion Loan After Evergrande Bond Losses
1 articles · Updated · Bloomberg · May 19
HK$1.36 billion in borrowing due next week has left Asia Standard Hotel Holdings scrambling for a rollover, but it had not secured enough lender backing as of Monday, people familiar with the matter said.
The refinancing strain follows millions of dollars in losses on the Hong Kong hotel operator's investment in China Evergrande bonds, weakening its position as it seeks to extend the debt.
Asia Standard Hotel Holdings is a unit of Hong Kong-listed Asia Standard International Group and owns five "Empire"-brand hotels in the city.
The case underscores how fallout from Evergrande's debt collapse is still pressuring Hong Kong companies' balance sheets and access to funding.
Could Asia Standard Hotel Holdings’ refinancing troubles signal deeper cracks in Hong Kong’s commercial property market recovery?
With lenders remaining cautious, what strategies could hotel operators pursue to avoid default amid falling commercial property values?