HK Hotel Firm Hit by Evergrande Loss Struggles to Refinance Loan

A Hong Kong hotel operator which suffered millions of dollars of losses on its investment in China Evergrande’s bonds is facing difficulty refinancing a HK$1.36 billion ($174 million) loan due next week, according to people familiar with the matter.

Asia Standard Hotel Holdings, a unit of Hong Kong-listed Asia Standard International Group that owns and operates five hotels under the “Empire” brand in the city, has been seeking to roll over the borrowing, but had yet to secure sufficient backing from its lenders as of Monday, the people said, asking not to be identified discussing private matters.