Chiho Environmental Group Limited has announced the appointment of receivers over the shares of certain wholly-owned subsidiaries due to a payment default under a facility agreement. The subsidiaries involved include Chiho Renewable Development Limited, Chiho Renewable International Holding Limited, both incorporated in Hong Kong, and Chiho-Tiande Resources Limited, incorporated in the British Virgin Islands. This development follows a syndicated term loan agreement of up to US$300 million entered into in 2018, which was secured by charges over these subsidiaries' shares.
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