Shanghai Jin Jiang International Hotels Provides EUR55 Million Guarantee for Unit

MT Newswires Live

09/26

Shanghai Jin Jiang International Hotels (SHA:600754) agreed to provide a 55 million euro guarantee for subsidiary Jinjang Hong Kong.

The guarantee supports a comprehensive credit line facility of 55 million euros from China Minsheng Bank, according to a Friday filing with the Shanghai bourse.

The guarantee is needed for restructuring existing Euro-denominated bank loans and for Groupe du Louvre's daily operations.

Shares of the hotel operator closed 1% lower Friday.

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