An indirect wholly owned subsidiary of Tian An China Investments Co. Ltd. agreed to provide a HK$350.0 million loan to an unnamed borrower incorporated in Hong Kong.
The borrower's principal business activity is providing money-lending services.
The lender, Join View Development Ltd., provided the loan with an interest rate of 12.48% per annum for the first month from the first drawdown date and a subsequent interest rate of 12% per annum. The loan will have a three-month term from the first drawdown date and will be used by the borrower for general working capital.
Investment holding company Tian An China and its subsidiaries are involved in developing apartments, offices, commercial and residential properties in China along with property investment and property management in Hong Kong.