Shaanxi Construction Machinery's Subsidiary to Apply for 50 Million Yuan Credit
MT Newswires Live
Sep 19
Shaanxi Construction Machinery's (SHA:600984) subsidiary, Shanghai Pangyuan Machinery Leasing, plans to apply for a credit of up to 50 million yuan to fund its daily working needs, according to a Shanghai bourse disclosure on Friday.
The credit will be applied at Bank of China's (SHA:601988, HKG:3988) Pudong branch.
The Chinese machinery producer is required to provide a joint liability guarantee to Pangyuan Machinery for the credit. The guarantee's term is until Sept. 30, 2026.
The company's shares jumped over 5% at the close of the trade.
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