Global International Credit Group (HKG:1669) unit Global International Credit agreed to grant a HK$12 million secured loan to third-party borrower, a Thursday bourse filing said.
The borrower will use proceeds from the loan, which carries a 2% per annum interest rate and will fall due in 12 months, to fully settle the outstanding principal under a previous loan agreement.
A first legal charge/mortgage related to a HK$18 million residential property and a car parking space in King's Park was pledged as security against the loan.
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