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Greentown China inks $300M loan

Greentown ChinaHoldings Ltd. said April 8 that it signed a US$300.0 million term loanfacility.

Some of the company's subsidiaries acted as guarantors for thefacility agreement with an unnamed financial institution. The company will repaythe loan facility by installments, with the final repayment date falling 36 monthsafter the date of the loan deal.

Greentown China plans to use the loan to refinance some of itsexisting financial indebtedness, for general working capital and for capital expenditurerequirements.

Greentown China secured the loan following a recent term loanfacility of up to US$720.0 million that it signed with several unnamed financialinstitutions on March 18, as previously reported.