China Tianbao Group Secures RMB800 Million Loan Facility for Subsidiary from China Construction Bank

Reuters12-03
China Tianbao Group Secures RMB800 Million Loan Facility for Subsidiary from <a href="https://laohu8.com/S/CICHF">China Construction</a> Bank

China Tianbao Group Development Company Limited has announced its intention to enter into a corporate guarantee agreement with China Construction Bank Corporation, Huailai Branch. The guarantee, with a maximum amount of RMB800 million, is to secure the obligations of its wholly-owned subsidiary, Huailai Tianbao Health Care Service Co., Ltd., under a long-term loan facility provided by the bank. The loan, which matures in July 2041, bears interest at China's Loan Prime Rate minus 60 basis points, with annual repayments structured according to the business development needs of Tianbao Jingbei Health City. The company's board considers the agreement beneficial for enhancing the subsidiary's cash flow management and supporting its business operations.

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