E-Commodities (HKG:1733) and unit Inner Mongolia Haotong Energy provided a joint and several liability guarantee for a loan obtained by another subsidiary, a Thursday bourse filing showed.
The guarantee is in favor of the Haikou Sub-Branch of Hainan Rural Commercial Bank, which agreed to provide a 200 million yuan credit facility to Hainan More Richway Supply Chain Management.
The borrower intends to use the facility to issue letters of credit, apply for import bill advance, and for other activities.
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