The Bank of East Asia

Corporate Banking

Pre-approved Principal Payment Holiday Scheme

Pre-approved Principal Payment Holiday Scheme

To provide relief to businesses affected by the outbreak of COVID-19, we are offering eligible corporate customers a pre-approved holiday on principal payments.

Covered Borrowers

Corporate customers which:

  • have, as an entity, an annual sales turnover of up to HK$800 million, according to their latest financial statement;
  • had no outstanding payments payable to the Bank which were overdue for more than 30 days as at 1st May, 2021 1; and
  • are not in the process of ceasing operations or declaring bankruptcy or liquidation 1.

Payments Covered        

Principal payments for all bilateral loans drawn before 1st May, 2021 2 that are due within 6 months of that date 3.

Payment Holiday

6 months beginning from the original due dates of the payments covered, except trade facilities for which the payment holiday period is set at 90 days 4.

Hotline

2211 1469

Remarks:

1  Also applies to loans for taxis, public light buses, and relevant commercial vehicles held in the name of personal customers.

2  Effective from 1st August, 2021, trade loans drawn between 1st May, 2021 and 31st July, 2021 are also covered in the scheme. Eligible corporate customers can apply for a 90-day trade loan extension if they had no outstanding payments overdue for more than 30 days as at 1st August, 2021.

3  Syndicated loans and loans financing the purchase of shares and other financial assets are not covered by the Scheme.

4  For facilities which are self-liquidating in nature, the Bank may require the loan to be settled when the underlying payment has been received by the covered borrower.