China Industrial Securities International Financial Group Secures Renewal of US$35 Million Revolving Loan Facility

Reuters12-02
China <a href="https://laohu8.com/S/601377">Industrial Securities</a> International Financial Group Secures Renewal of US$35 Million Revolving Loan Facility

China Industrial Securities International Financial Group Ltd. has entered into a renewed facility letter with a bank, securing an uncommitted revolving loan facility of up to US$35 million. The facility's termination date is set for 12 months from the execution date, subject to annual review and possible extension at the lender's discretion. A key condition of the agreement stipulates that Industrial Securities Co., Ltd., the company's controlling shareholder, must retain at least 51% ownership of the company's issued share capital; otherwise, an event of default will occur. As of the announcement date, Industrial Securities holds approximately 59.72% of the company's shares. The company will continue to make disclosures regarding this obligation in its interim and annual reports.

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