Beijing helmets Capital Dev't applies for RMB 2-bln credit line
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Beijing Capital Dev't applies for RMB 2-bln credit linePublished: 25 Nov 2009 01:25:20 PST

More From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial Market Nov. 25, 2009 (China Knowledge) - Beijing Capital Development Co Ltd<600376> on Monday announced that it is applying to China Foreign Economy & Trade Trust Co Ltd, a subsidiary of state-owned Sinochem Corp, for a two-year credit line of RMB 2 billion, sources reported.

According to a statement filed with the Shanghai Stock Exchange, the interest rate will be 7%.

The Shanghai-listed firm will pay a guarantee fee of RMB 10 million or 0.5% of the credit line to the underwriter, the parent Beijing Capital Development Holding (Group) Co Ltd.

In addition, Beijing Capital Development intends to inject RMB 103.97 million into a wholly-owned subsidiary located in Yangzhou, Jiangsu Province and to inject another RMB 12 million into a subsidiary in Suzhou of the same province.

Reportedly, Beijing Capital Development on Nov. 15 announced that it will invest RMB 255 million in a joint venture in Taiyuan, Shanxi Province for an 85% stake, and that a Beijing investment company will hold the remaining 15%. The JV will have a registered capital of RMB 300 million.



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