China Success Finance Group Holdings Ltd. (HK:3623) has released an update.
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China Success Finance Group Holdings Limited has secured a shareholder’s loan of HK$16 million from its controlling shareholder, Expert Depot, to refinance its convertible bonds. The loan is unsecured, has an annual interest rate of 7.875% with monthly compounding, and spans a three-year term starting 16 July 2024. The Directors believe this financial maneuver, which offers better terms compared to the convertible bonds, will benefit the Group by providing continuous financial support and saving on interest payments.
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