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Country Garden secures HK$1.78B loan for planned Chinese company investment

Country Garden Holdings Co. Ltd. established Dec. 27 a roughly HK$1.78 billion loan facility with BNP Paribas to finance a wholly owned subsidiary's plan to invest in a Chinese real estate services provider.

Funds drawn from the 36-month term facility will be used for Country Garden (Hong Kong) Development Co. Ltd.'s proposed acquisition of a 12.35% stake and subscription of a 4.21% interest in E-House (China) Enterprise Holdings Ltd.

The facility's validity is subject to Country Garden (Hong Kong) being a wholly owned subsidiary of Country Garden Holdings and on Yang Huiyan and Yeung Kwok Keung being the largest beneficial owner of Country Garden Holdings, among other conditions.

According to its website, E-House provides services involving brokerage, marketing, online real estate, e-commerce, property information and consulting.