Standard Chartered Plc provided a loan to Crystal Jade Culinary Concepts Holding Pte Ltd that helped refinance a separate borrowing from private credit provider Indies Capital Partners, according to a person familiar with the matter, who asked not to be named because the matter is private.
While the size of the loan from Standard Chartered was not immediately available, the loan Crystal Jade took out from Indies was $26.5 million.
The restaurant chain with outlets in places such as Hong Kong, China and South Korea had been looking to refinance the debt, for which it was paying a 17% annual rate of interest, Bloomberg reported in July.
Calls to Crystal Jade were not picked up and Bloomberg did not get a response to an email sent to a company official. Indies declined to comment. Standard Chartered declined to comment.
