Winfull Group (HKG:0183) agreed to provide a term loan facility of up to $1 million to Melrose Park Developments, a Wednesday bourse filing said.
The loan carries a PIK interest rate of 6% per annum to be paid on the final repayment date, and an 8% per annum interest rate to be paid on a quarterly basis.
The borrower, which engages mainly in the investment holding business, will use the loan to finance its funding commitment under a certain loan agreement under which it is a co-lender and security agent.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.