S-Enjoy Service Group to Grant 120 Million Yuan Loan to Seazen Holdings

MT Newswires Live10-02

S-Enjoy Service Group (HKG:1755) will extend a 120 million yuan loan to Seazen Group (HKG:1030) unit Seazen Holdings (SHA:601155), separate filings by the two companies on the Hong Kong bourse stated.

The loan has been granted under a framework agreement signed the same day, under which it was agreed that S-Enjoy Service Group will grant up to 1 billion yuan of loans to Chinese property developer Seazen Holdings.

The interest rate for the loan will be the higher of the Loan Prime Rate for loans of more than one year and less than five years and the fixed lending rate of 6.05% per annum.

Residential property manager S-Enjoy Service's founder and controlling shareholder, Wang Zhenhua, is also the controlling shareholder of real estate company Seazen Group.

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