Brief: GLOBAL Sweeteners Holdings Updates On Breach Of Loan Agreements

Global Bio-chem Technology Co

04/05/2020 12:19

May 4 (Reuters) - GLOBAL Sweeteners Holdings Ltd  3889.HK :
    * LOAN AGREEMENTS ENTERED BETWEEN UNIT & JINZHOU BRANCH OF
CHINA
CONSTRUCTION BANK & JINZHOU BRANCH OF BANK OF CHINA
    * LOANS AMOUNT TO RMB219.9 MILLION
    * JINZHOU YUANCHENG FAILED TO FULFILL CERTAIN FINANCIAL
COVENANTS
UNDER LOAN AGREEMENTS BASED ON QTRLY UNAUDITED ACCOUNTS
    * SUCH BREACH ENTITLES LENDERS TO DECLARE OUTSTANDING
PRINCIPAL
AMOUNT & OTHER SUMS UNDER AGREEMENTS IMMEDIATELY DUE & PAYABLE
    * JINZHOU YUANCHENG HAS YET TO RECEIVE ANY WAIVER NOR ANY
DEMAND
FOR IMMEDIATE REPAYMENT FROM LENDERS IN RESPECT OF BREACH

Source text for Eikon:  ID:nHKSb1kHnT 
Further company coverage:  3889.HK 

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