China Development Bank Financial Leasing Purchases Equipment for Leaseback

MT Newswires Live11-27

China Development Bank Financial Leasing (HKG:1606) purchased certain photovoltaic power generation equipment in Heyang County, Shaanxi, China from Shaanxi Heyang Guihua Clean Energy for 920 million yuan.

The company also agreed to lease the assets back to the seller for 120 months for a lease interest amount of 920 million yuan and lease interest income of 200 million yuan, a Tuesday Hong Kong bourse filing said.

The lease principal and interest will be paid by the lessee on a quarterly basis and the lessee has the option to repurchase the leased assets at a nominal amount of 100 yuan at the completion of the lease period.

The bank will use its own funds or commercial loans for the purchase.

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