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China Nonferrous Gold secures new loan agreement
StockMarketWire.com
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China Nonferrous Gold said it had entered a new loan agreement with China CITIC Bank Corporation for a credit facility of up to CNY 300 million, which was equivalent to US$46.37m at the current exchange rate.
The CITIC loan facility ws for a maximum of 12 months and repayable 12 months from first drawdown.
The terms of the CITIC Loan included an annual interest rate at 2.70% plus 6 month LIBOR.
'Approximately US$20m of the CITIC loan is expected to be drawn down shortly and will be used for the replacement of CCB Macau loan of US $20m which is due in January 2021,' the company said.
At 9:58am: (LON:CNG) China Nonferrous Gold Limited Ord Usd0.0001 share price was 0p at 10.23p
Story provided by StockMarketWire.com
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