ASYMCHEM Seeks Up to RMB 3 Billion in Comprehensive Credit Lines from Multiple Financial Institutions

Stock News08-24 21:30

Asymchem Laboratories (Tianjin) Co., Ltd. (06821), a leading pharmaceutical contract development and manufacturing organization, has announced its intention to secure comprehensive credit facilities from a consortium of financial institutions to support its operational continuity and business expansion.

The company revealed in a recent statement that it plans to apply for an aggregate credit line of up to RMB 3 billion (or the equivalent in foreign currency) from a diverse group of lenders, including Shanghai Pudong Development Bank, China Merchants Bank, Bank of China Dunhua Sub-branch, Industrial and Commercial Bank of China Dunhua Sub-branch, Citibank (China) Co., Ltd., Standard Chartered Bank (China) Limited Tianjin Branch, Bohai Bank, and Bank of China Tianjin Branch.

This strategic move aims to ensure the continuity of existing credit facilities while meeting the daily operational needs and future development requirements of both the parent company and its subsidiaries. The proposed credit lines are designed to bolster the company's capacity for sustainable growth over the long term.

The credit facilities will carry a term of no more than one year, commencing from the date of approval by the company's board of directors. This initiative underscores the company's proactive approach to maintaining financial flexibility and securing adequate funding resources to navigate its operational landscape effectively.

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