Brief: Global Bio-Chem Technology Group Updates On Provision Of Financial Assistance To Dajincang

Global Bio-chem Technology Co

06/11/2018 11:03

Nov 6 (Reuters) - Global Bio-chem Technology Group Co Ltd
 0809.HK :
    * DAJINCANG STILL DOES NOT HAVE SUFFICIENT FINANCIAL
RESOURCES TO
REPAY PREVIOUS SUPPLIER LOAN WHEN SAME FALLS DUE
    * DAJINCANG PROPOSES TO REFINANCE PREVIOUS SUPPLIER LOAN BY
ENTERING INTO NEW LOAN AGREEMENTS WITH BOC
    * AS A CONDITION TO NEW SUPPLIER LOAN, BOC REQUESTED EACH OF
GUARANTORS TO ENTER INTO NEW SUPPLIER GUARANTEES
    * UNDER NEW SUPPLIER LOAN AGREEMENTS, DAJINCANG TO BORROW
RMB2.49
BILLION FROM BOC TO REFINANCE PREVIOUS SUPPLIER LOAN
    * CO'S UNIT CHANGCHUN BAOCHENG IS ONE OF GUARANTORS OF NEW
SUPPLIER LOAN AGREEMENTS

Source text for Eikon:  ID:nHKS43kGJm 
Further company coverage:  0809.HK 

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