<a href="https://laohu8.com/S/AAOI">Applied Optoelectronics Inc.</a> Subsidiary Secures 96.8 Million RMB Credit Facility with China Construction Bank to Repay Existing Loans
Applied Optoelectronics, Inc., through its wholly owned subsidiary Global Technology, Inc., has entered into a new one-year credit facility agreement with China Construction Bank in Ningbo City, China. The facility, valued at 96,800,000 RMB, is intended to repay outstanding loans with Shanghai Pudong Development Bank Co., Ltd. The borrowing under this facility will mature on June 16, 2026, with an interest rate set at the bank's published twelve-month prime loan rate minus 0.05%. As of the agreement's execution, this rate stands at 3%. The obligations under this unsecured credit facility include customary rights and obligations, and the principal amount is due upon maturity. Additionally, Global Technology has utilized this facility to repay and terminate its previous five-year revolving credit line with Shanghai Pudong Development Bank, without incurring any penalties.
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