GoFintech Innovation (HKG:0290) agreed to provide a revolving loan with a principal amount of HK$30 million to its associate Wealthink AI-Innovation Capital for a term of six months, a Wednesday Hong Kong bourse filing said.
The loan term started on Wednesday and it has an interest rate equal to the Hong Kong interbank offered rate plus another 0.5% per annum.
The borrower will be using the loan for repayment of its loans and replenishing its working capital.
The company had previously, on Nov. 28, agreed to provide another revolving loan of HK$20 million to the borrower on similar terms.
The company has also agreed to provide guarantees in favor of China Zheshang Bank and Shanghai Pudong Development Bank for the repayment obligations of the borrower under two loans of HK$130 million and HK$150 million respectively, granted by the banks to the borrower.
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