Beijing Capital Grand's Subsidiary to Pay Guarantee Fees to Controlling Shareholder

MT Newswires Live08-05

Beijing Capital Grand's (HKG:1329) subsidiary Hefei Chuangju Outlets Commercial Management agreed to pay a guarantee fee to controlling shareholder Beijing Capital City Development Group.

The guarantee fee is related to the guarantee liability assumed by Beijing Capital City Development for the loan taken by Hefei Chuangju from the Industrial Bank's (SHA:601166) Fei Dong Branch, a Friday filing with the Hong Kong Exchange said.

Hefei Chuangju agreed to take a loan of up to 450 million yuan from the Industrial Bank on July 31. The loan is for a three-year term, starting from Aug. 2, 2024, to Aug. 1, 2027. BCCDG had agreed to provide a joint liability guarantee along with the borrower for the loan on Aug. 2.

The guarantee fee will be calculated at 1% per annum of the remaining balance of the principal amount of the loan still unpaid by Hefei Chuangju.

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