Yuexiu Property Unit Signs $184.7 Million Term Loan Facility

MT Newswires · 09/02/2022 14:28

02:28 AM EDT, 09/02/2022 (MT Newswires) -- Yuexiu Property's (HKG:0123) Leading Affluence unit agreed to a HK$1.45 billion ($184.7 million) bank loan facility, according to a stock exchange filing on Thursday.

The facility agreement will have a 36-month term.

Meanwhile, an event of default will take place if the direct or indirect shareholding of Yue Xiu Enterprises (Holdings), Yuexiu Property's controlling shareholder, in the company's issued voting shares falls to below 30%, or if Yue Xiu Enterprises ceases to be the single largest beneficial shareholder of the property developer.

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