Shanghai Jin Jiang International Hotels (SHA:600754) agreed to provide a 55 million euro guarantee for subsidiary Jinjang Hong Kong.
The guarantee supports a comprehensive credit line facility of 55 million euros from China Minsheng Bank, according to a Friday filing with the Shanghai bourse.
The guarantee is needed for restructuring existing Euro-denominated bank loans and for Groupe du Louvre's daily operations.
Shares of the hotel operator closed 1% lower Friday.
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