China Oceanwide obtains three-month extension of term loan

By Rebecca Melvin

New York, Aug. 12 – China Oceanwide Holdings Group Co. Ltd. said it has entered into an amendment of its term loan facility to extend the maturity date for three months to Nov. 8, 2019.

The borrower will partially repay the principal amount and accrued interest of the loan, which was inked Aug. 9, 2018, and which is for up to a maximum amount of $215 million and on which $160 million is drawn.

There will also be an increase in interest as well as a payment of the extension fee. The other major terms and conditions of the facility agreement remain effective and unchanged.

The company is a real estate business based in Beijing.

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