Grand Ming Group Lenders Agree to Waivers of Loan Covenants; Shares Jump 31%

MT Newswires Live

Jul 15, 2025

Grand Ming Group (HKG:1271) said its lenders agreed to not demand immediate repayment after it fell out of compliance with certain financial covenants, according to a Hong Kong bourse filing Monday.

Shares of the company jumped 31% in morning trade Tuesday.

The property developer, which owes over HK$4.80 billion, previously said it no longer met the loan facilities' requirement that it maintain a certain threshold ratio of consolidated EBITDA to consolidated interest expenses; consolidated net gearing ratio; and current ratio.

As a result, lenders could have demanded immediate repayment of the amounts lent.

Grand Ming Group said it would repay the loan principal and make interest payments according to the original schedule.

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Shares Jump 31%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2025-07-15 10:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> <a href=\"https://laohu8.com/S/01271\">Grand Ming</a> Group (HKG:1271) said its lenders agreed to not demand immediate repayment after it fell out of compliance with certain financial covenants, according to a <a href=\"https://laohu8.com/S/HKRHF\">Hong Kong</a> bourse filing Monday.</p><p>Shares of the company jumped 31% in morning trade Tuesday.</p><p>The property developer, which owes over HK$4.80 billion, previously said it no longer met the loan facilities' requirement that it maintain a certain threshold ratio of consolidated EBITDA to consolidated interest expenses; consolidated net gearing ratio; and current ratio.</p><p>As a result, lenders could have demanded immediate repayment of the amounts lent.</p><p>Grand Ming Group said it would repay the loan principal and make interest payments according to the original schedule.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4231","symbol_name":"零售房地产信托","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2551137083","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2551137083","pubTimestamp":1752546627,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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