Zero Fintech Group's (HKG:0093) subsidiary X8 Finance agreed to make available a loan with a principal amount of HK$50 million to Kowloon Investment for a term of six months, a Tuesday Hong Kong bourse filing said.
The loan's draw-down date is Dec. 3, and it holds an interest rate of 18% per annum.
The borrower has previously borrowed loans from X8 Finance and together with the current loan, the total outstanding balance of loan principals owed by the borrower amounts to HK$150 million.
The borrower has provided a first mortgage in respect of a commercial building in Hong Kong for all the loans advanced by X8 Finance and their respective accrued interests.
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