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Guorui Properties unit secures 3B-yuan syndicated loan

Guorui Properties Ltd. subsidiary Beijing Glory Xingye Real Estate Co. Ltd. signed a syndicated loan of 3 billion yuan.

The Beijing-based real estate company said the loan facility will be used to fund its projects.

The lenders are China Zheshang Bank Co. Ltd. Beijing Branch as facility arranger and agent, and Bank of Beijing Co. Ltd. Guangming Branch.

As of Jan. 3, US$1 was equivalent to 6.87 yuan.