Jin Jiang International Hotels Guarantees EUR74 Million Loan for French Subsidiary

MT Newswires Live

09/24

Shanghai Jin Jiang International Hotels (SHA:600754, SHA:900934) guaranteed an amount of 73.5 million euros for a French subsidiary's working capital loan of the same amount, according to a Shanghai bourse disclosure on Wednesday.

Groupe du Louvre will use the loan to supplement its daily working capital needs.

The hotel operator signed the guarantee agreement with Industrial and Commercial Bank of China (HKG:1398, SHA:601398).

Jin Jiang's A shares slipped 1% during morning trade.

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