China Ship Leasing (03877) issued an announcement. On April 2, 2024, the company (as a guarantor) will own...
According to Zhitong Finance App, China Ship Leasing (03877) issued an announcement. On April 2, 2024, the company (as the guarantor) entered into a guarantee with the owner as the beneficiary. The company irrevocably and unconditionally agreed to provide a guarantee of up to 73.1 million US dollars for the lessee (Golden Horse Steamers) to promptly fulfill its obligations, duties and responsibilities under or in connection with the lease.
According to reports, the owners, including Compass Shipping 129, Compass Shipping 130, Compass Shipping 131, and Compass Shipping 132 are all companies incorporated in Hong Kong, China, and are wholly owned indirectly by Jianxin Financial Leasing Co., Ltd. through Jianxin Shipping Aviation Financial Leasing Co., Ltd. Jianxin Shipping Aviation Financial Leasing Co., Ltd. is a limited company incorporated in Hong Kong, China. It is directly and wholly owned by Jianxin Financial Leasing Co., Ltd. It is mainly engaged in providing leasing services to customers in aviation and shipping industries. Compass Shipping 129, Compass Shipping 130, Compass Shipping 131, and Compass Shipping 132 are each mainly engaged in shipping business.
The announcement stated that providing a guarantee based on the guarantee will help tenants meet their financial needs for sale and leaseback and maintenance of their daily operations. Furthermore, since the company only provides guarantees based on its shareholding ratio to the lessee through Jinma Steamship, the directors believe that the guarantee will enable the Group to ensure the steady growth of tenants, generate commercial benefits, and ultimately promote the Group's future profits.