Chow Tai Fook Enterprises reportedly seeks refinancing for a 7.3 billion loan

SighingCashier · 2026-03-17T01:00:50+00:00

New World Development's parent company Chow Tai Fook Enterprises is seeking to refinance a 7.3 billion yuan loan and plans to initiate preliminary discussions with banks, expecting to obtain a 5-year credit facility. Following adjustments, Chow Tai's net asset-to-liability ratio has decreased from 62% to 29%.

SighingCashier

2026-03-17 01:00:50

Abstract generation in progress

Bloomberg, citing sources, reports that New World Development (00017)'s parent company Chow Tai Fook Enterprises is seeking to refinance a HKD 7.3 billion loan due in June. The group is reportedly in preliminary discussions with banks to secure a five-year facility.

Sources indicate that at the end of last year, the Zheng family injected a 54% stake in Chow Tai Fook Jewellery (01929) into Chow Tai Fook Enterprises. At the same time, Chow Tai Fook Enterprises sold its Australian electricity business, Alinta Energy, to Singapore’s Sembcorp Industries. Following these adjustments, Chow Tai Fook Enterprises’ net debt-to-asset ratio decreased from 62% in June 2025 to 29%; its net debt relative to EBITDA (earnings before interest, taxes, depreciation, and amortization) also dropped from 7.3 times to 3.7 times.

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