Leading Affluence Limited, a wholly-owned subsidiary of Yuexiu Property Co. Ltd., has entered into a facility agreement with a bank for a term loan facility amounting to CNH500 million. The loan, which is also available in its equivalent in HKD, is set for a term of 364 days. The obligations under this agreement are guaranteed by Yuexiu Property Co. Ltd. An event of default may occur if Yue Xiu Enterprises (Holdings) Limited, the controlling shareholder, reduces its shareholding in Yuexiu Property Co. Ltd. below 30% or ceases to be the largest beneficial shareholder. As of the latest update, Yue Xiu Enterprises holds about 44% of the issued shares of Yuexiu Property Co. Ltd.
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