China Resources Land (HK:1109) has released an update.
China Resources Land Limited has announced the entry into two term loan facilities totaling CNY 3,300,000,000, with respective maturity dates of 12 and 36 months, conditional on government approval. The loans are contingent upon China Resources Holdings Company Limited (CRH) maintaining at least a 35% ownership in the company and remaining the single largest shareholder, with further conditions including more than 50% ownership by a PRC Governmental Body. Failure to meet these conditions could lead to the loans becoming immediately due and payable.
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