Summary by Futu AI
K Cash Group Limited ("K Cash") announced on November 8, 2024, that it has successfully obtained a syndicated loan in the amount of 500.5 million Hong Kong dollars, setting a new record for the largest single financing since the establishment of this group. The funds will be used for the group's general corporate purposes, including expanding the loan portfolio and refinancing existing financial debts. The company stated that the financing terms were fairly negotiated and believed to be in line with the overall interests of the shareholders. This move will help optimize the group's debt structure and supplement operational funds. K Cash also plans to monitor interest rate risks and may use financial instruments for hedging. The lenders under the financing, arranging banks, and account managers, as well as their ultimate beneficial owners, are all independent from K Cash and its related parties. Shareholders and potential investors should handle related securities transactions carefully.