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Poly Property secures HK$2B revolving loan with Industrial Bank

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Poly Property secures HK$2B revolving loan with Industrial Bank

Poly Property Group Co. Ltd. obtained a HK$2.00 billion revolving loan facility from the Hong Kong branch of Industrial Bank Co. Ltd.

The credit facility will mature on whichever date comes first: 24 months after Sept. 6 or the lender's prevailing annual review date.

The validity of the loan is also subject to, among other conditions, China Poly Group Corp. maintaining its status as the largest single shareholder of the borrowing Chinese property company.