Yuexiu Property Secures HK$500 Million Term Loan Facility
Reuters
Dec 16
<a href="https://laohu8.com/S/YUEXF">Yuexiu Property</a> Secures HK$500 Million Term Loan Facility
Yuexiu Property Co. Ltd. has entered into a new facility agreement with a bank, securing a term loan facility of HK$500 million. The loan is available for a maximum term of 18 months from the first drawdown date, subject to the terms and conditions outlined in the agreement. A key condition of the facility is that an event of default will occur if Yue Xiu Enterprises (Holdings) Limited, the controlling shareholder, reduces its shareholding in Yuexiu Property below 30%, ceases to be the single largest beneficial shareholder, or loses effective management control over the company. In such an event, the lender may demand immediate repayment of the loan. As of the announcement date, Yue Xiu holds approximately 44% of the company's issued shares.
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