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China Merchants Land signs 1B yuan term-loan deal

China Merchants Land Ltd. and an unnamed bank agreed to set up a term-loan facility not exceeding 1.00 billion yuan at any one time.

The Hong Kong-listed Chinese real estate company obtained the three-year facility, the term of which starts June 15, two days after it secured a facility of the same size.

As of June 15, US$1 was equivalent to 6.44 Chinese yuan.