Glengoo reported on November 13th that KCASH Group (02483.HK) announced that on November 8, 2024, the company successfully obtained a syndicated loan ("the financing"). The amount of the financing is 0.55 billion Hong Kong dollars, the largest single credit financing since the establishment of the group.
The funds raised from this financing will be used for the general business purposes of the group, including expanding the group's loan portfolio and refinancing the group's existing financial debts. Through this financing arrangement, the group can expand its financing channels, supplement the capital needed for its operations, and optimize the group's debt structure. The company will also continue to monitor its interest rate risks, and consider using financial instruments to hedge significant risks associated with floating-rate debts in appropriate market conditions.
