(25 November 2014) China Overseas Land & Investment Ltd (the “Company”, Stock Code: 0688.HK) is delighted to announced the signing of HK$14 billion club loan with 13 banks.
The club credit is jointly offered by 13 reputable banks onshore and offshore. The original targeted amount of the club loan was HK$10 billion. Due to the positive response and support from the banks, eventually the amount of loan was increased to HK$14 billion, which is the largest club loan for the Company since its establishment. The great success in this exercise demonstrates the confidence of the financial market on the Company. The proceeds will be mainly used for repaying some of the existing loans and for the development of the Company.
The board of directors of COLI would like to express its sincere appreciation to the participating banks for their continued support.
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