China Jinmao Amends Financial Services Agreement with Sinochem Finance, Secures Up to RMB1.5 Billion in New Loan Facilities
Reuters
Sep 29
China Jinmao Amends Financial Services Agreement with Sinochem Finance, Secures Up to RMB1.5 Billion in New Loan Facilities
**China Jinmao Holdings Group Limited Secures New Loan Agreement with Sinochem Finance** China Jinmao Holdings Group Limited has entered into a supplemental agreement with Sinochem Finance, further expanding the scope of their existing Sinochem Financial Services Framework Agreement. Under this new arrangement, Sinochem Finance will provide operating property loans and M&A loan services to the Group, with a principal amount of up to RMB 1,500 million for Beijing Zhantuo Real Estate Co., Ltd., a subsidiary of China Jinmao. The loans are secured by asset mortgage collateral and are valid for twelve years from June 24, 2024, following approval by the Company's Independent Shareholders. The agreement ensures that the terms offered by Sinochem Finance are no less favourable than those from independent financial institutions, with all terms subject to internal review and approval by the Company's chief financial officer. This move aims to enhance China Jinmao's financial flexibility and support its business development needs.
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