China Overseas Land & Investment Ltd. (COLI) has entered into a Secured Loan Framework Agreement with China CITIC Bank covering the period from 1 July 2026 to 30 June 2029.
Key terms • Facility scope: China CITIC Bank Group may grant COLI and its subsidiaries secured bilateral, club or syndicated loans—covering business, development, project and M&A financing—subject to asset mortgages or equity pledges provided by COLI. • Currency & amount: Drawdowns can be in RMB or other currencies; daily aggregate outstanding balances cannot exceed RMB 15.00 billion. • Pricing: Interest rate will not exceed the lowest rate offered by major PRC commercial banks for comparable loans. • Security: Collateral may include land, development projects, residential or commercial properties and equity interests. If collateral is enforced, COLI’s liability is capped at the outstanding principal, never above the RMB 15.00 billion limit. • Use of proceeds: Working capital, loan refinancing, project development/construction/operation and acquisition funding.
Governance & compliance • Because CITIC Group indirectly holds 10.01 % of COLI and 65.79 % of China CITIC Bank, the facility constitutes a continuing connected transaction under Chapter 14A of the HKEX Listing Rules; it requires independent shareholder approval. • Complete Noble, a CITIC subsidiary holding 10.01 % of COLI shares, will abstain from voting at the virtual general meeting scheduled for 24 June 2026. • Internal controls include benchmarking each secured loan against at least three independent banks and quarterly reporting to the audit committee and board. External auditors will conduct annual reviews of compliance with the cap.
Rationale Management cites the need to diversify funding sources and maintain liquidity for ongoing property development and commercial-property operations. The board and independent financial adviser deem the agreement fair, on normal commercial terms and in the interests of shareholders.
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