China Electronics Optics Valley Union Holding's (HKG:0798) subsidiary Wuhan Optics Valley Union Group agreed to borrow another revolving facility of one billion yuan from China Electronics Financial to fulfill its financing requirements, a Tuesday Hong Kong bourse filing said.
The term of the facility is one year, from Feb. 10, 2025, to Feb. 9, 2026, and it is guaranteed by the company.
The interest rate for each drawdown will depend on the prevailing one-year loan prime rate and prevailing interest rates for similar loan facilities offered by major commercial banks in China.
Wuhan Optics Valley Union Group had borrowed a similar facility of up to 878 million yuan from China Electronics Financial in 2023, the term of which expired on Tuesday.
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