Crystal Jade Refinances $26.5 Million Indies Capital Loan
Crystal Jade, a Chinese restaurant chain, has refinanced a $26.5 million loan from Indies Capital. The loan was originally taken out in 2018 and was due to mature in 2021.
Background of Crystal Jade
Crystal Jade is a Chinese restaurant chain that was founded in 1991. It has since grown to become one of the largest Chinese restaurant chains in the world, with over 500 outlets in more than 20 countries. The company is headquartered in Singapore and is owned by the Singapore-based private equity firm, CVC Capital Partners.
Indies Capital
Indies Capital is a Singapore-based venture capital firm that invests in early-stage companies in Southeast Asia. The firm was founded in 2017 and has since invested in over 50 companies in the region.
Details of the Refinancing
The refinancing of the loan was led by Indies Capital and included participation from other investors. The loan was originally taken out in 2018 and was due to mature in 2021. The refinancing will extend the maturity of the loan to 2023.
The loan was used to finance the expansion of Crystal Jade’s restaurant chain. The refinancing will allow the company to continue to expand its operations and open new outlets.
Benefits of Refinancing
The refinancing of the loan will provide Crystal Jade with additional capital to continue to expand its operations. The loan will also provide the company with more flexibility in terms of repayment.
The refinancing will also provide Indies Capital with additional capital to invest in other companies in the region. The firm has already invested in over 50 companies in Southeast Asia and the additional capital will allow it to continue to invest in more companies.
Conclusion
Crystal Jade has refinanced a $26.5 million loan from Indies Capital. The loan was originally taken out in 2018 and was due to mature in 2021. The refinancing will extend the maturity of the loan to 2023 and will provide the company with additional capital to continue to expand its operations. The refinancing will also provide Indies Capital with additional capital to invest in other companies in the region.