2023-07-17 12:49:40
The report quoted people familiar with the matter as saying that Indies Capital Partners, a private lender, provided the loan to Emerald Catering in September 2021. The loan period is two years, with an option for one-year extension, and the annual interest rate is 17%. Emerald Catering is currently evaluating the fund and bank interest in refinancing.
Jade Restaurant is headquartered in Singapore, and its restaurant Jade Ramen Xiao Long Bao has outlets in Hong Kong, China, Vietnam, Cambodia and South Korea. According to the website of L Catterton, a private equity fund under LVMH, it purchased equity in Emerald Restaurant in 2014; Affirma Capital, a subsidiary of Standard Chartered Private Equity, also invested in Yi Restaurant in June 2015. Emerald Dining, Indies, Affirma and L Catterton also did not respond to Bloomberg inquiries.
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