Sterling Group Holdings Limited (HK:1825) has released an update.
Sterling Group Holdings Limited has announced a default on financial covenants relating to loan facilities amounting to HK$94.7 million, triggering a potential demand for immediate repayment. However, the lenders, Citibank and HSBC, have indicated no intention to demand immediate repayment, and the Group is in negotiations to obtain waivers for the breach. The company will provide updates on the situation as they negotiate with the lenders.
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