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China Resources Land secures 3B-yuan term loan

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China Resources Land secures 3B-yuan term loan

China Resources Land Ltd. secured a 3 billion-yuan, three-year term loan from an unnamed bank.

Under the terms of the facility agreement, China Resources (Holdings) Co. Ltd. is required to keep a minimum shareholding percentage in China Resources Land. The shareholder owns an approximately 61.27% stake in the company as of March 26.

As of March 25, US$1 was equivalent to 6.71 yuan.