Tianfeng Securities (SHA:601162) reached an agreement with controlling shareholder Hubei Hongtai Group to extend and adjust the terms of a 4-billion-yuan subordinated debt facility.
The 2023 loan, which initially had a five-year term and a 5% annual interest rate, will now be extended by one year, with the interest rate for the extended period reduced to 4%, according to a Friday filing with the Shanghai bourse.
Shares of the securities brokerage closed 2% higher Friday.
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