China Everbright (HKG:0165) has extended the maturities of two loans provided to its associate Everbright Jiabao (SHA:600622), according to an Oct. 17 Hong Kong bourse filing.
Shares of the firm gained nearly 4% in Monday morning trade.
The 900 million yuan second loan from Everbright Jiangsu and a 200 million yuan facility from Shanghai Angui have been extended to Dec. 31, 2026.
To secure repayment, Everbright Jiabao pledged equity interests in EBA Yida and accounts receivable from Chongqing Development and Ruishi Development (Shanghai).
Everbright said the extensions will improve returns on idle funds and strengthen resource utilization under current market conditions.
Comments