Business
Nam Tai Property Closes on RMB 600 Million Refinancing of Inno Park with China CITIC Bank
SHENZHEN, China, August 11, 2025--Nam Tai Property Inc. (OTC Expert Market: NTPIF) ("Nam Tai Property" or the "Company") today announced the successful closing of the RMB 600 million refinancing (the "New Loan") for its Inno Park property ("Inno Park"), the Company’s stabilized business park located in the Guangming District of Shenzhen, with China CITIC Bank Corporation Limited ("CITIC Bank").
About this update from Nam Tai Property Inc.
[{"type":"text","content":"New Loan Features Significantly Improved Terms, Including a 4.3% Interest Rate, 15-Year Duration and Reduced Payments in the First 3 Years","length":138,"tagName":"p","attribs":{}},{"type":"text","content":"SHENZHEN, China, August 11, 2025--(BUSINESS WIRE)--Nam Tai Property Inc. (OTC Expert Market: NTPIF) ("Nam Tai Property" or the "Company") today announced the successful closing of the RMB 600 million refinancing (the "New Loan") for its Inno Park property ("Inno Park"), the Company’s stabilized business park located in the Guangming District of Shenzhen, with China CITIC Bank Corporation Limited ("CITIC Bank").","length":465,"tagName":"p"},{"type":"text","content":"The New Loan replaces the existing loan (the "Original Loan") with Bank of China, which was set to mature in November 2028 and carried an outstanding balance of RMB 405 million as of July 21, 2025 (the "Repayment Date"). The New Loan matures in July 2040 and carries a blended all-in interest rate of approximately 4.3% per year.1 Additionally, the repayment schedule requires principal payments of RMB 12 million within one year and RMB 54 million within three years from the full drawdown date. The New Loan provides for improved terms compared to the Original Loan, which carried an interest rate of 5.022% per year and a repayment schedule requiring RMB 93 million within one year and RMB 316 million within three years.","length":744,"tagName":"p"},{"type":"text","content":"The New Loan immediately unlocks approximately RMB 195 million in available liquidity while substantially reducing the Company’s near-term repayment burden. The Company expects savings of approximately RMB 73 million in principal and interest over the next year and approximately RMB 225 million over the next three years. Excess proceeds are expected to be used to further accelerate the completion of the Nam Tai Tech Center and unlock value at Inno Valley.","length":459,"tagName":"p"},{"type":"text","content":"Bo Hu, Chief Executive Officer and board member, commented:","length":61,"tagName":"p"},{"type":"text","content":""The refinancing for Inno Park represents a significant milestone for Nam Tai. Our ability to secure a RMB 600 million facility with improved terms from a major institution reflects the work our team has do...