BOCOM International, Bank of Communications Unit to Extend Loan to Affiliates

MT Newswires Live

06/25

BOCOM International (HKG:3329) and Bank of Communications Macau Branch, agreed to extend a $365.9 million loan to 12 affiliated companies, according to a Thursday Hong Kong bourse filing.

The brokerage will provide up to $3 million of the total amount of the loan, which carries an interest rate of Term SOFR plus 0.5541%.

The borrowers will use the loan to refinance part of the purchase price of certain vessels.

The borrowers are all indirect units of Bank of Communications (HKG:3328, SHA:601328), the ultimate controlling shareholder of BOCOM International and owner of Bank of Communications Macau Branch.

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