HK-listed CWT International defaults on loan interests and fees; 3 CWT-linked REITs could be hit

SINGAPORE (Apr 16): CWT International (CWTI), controlled by Chinese conglomerate HNA Group which is facing liquidity challenges, on Tuesday announced it has failed to pay accrued interests and fees to lenders totalling HK$63 million ($10.9 million) which have become due and payable under a HK$1.4 billion facility.

See: HNA to face $3.1 bil liquidity crunch this quarter

As a default has occurred, the lenders have issued demands for immediate payment of the HK$1.4 billion principal and HK$63 million in interests and fees, says CWTI in a filing to the Hongkong Exchange which CWTI is listed.

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