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Poly Property unit secures HK$4B loan facility

Poly Property Group Co. Ltd. subsidiary Polymac Property Co. Ltd. secured a 24-month term loan facility worth HK$4.00 billion.

Industrial and Commercial Bank of China (Macau) Ltd. is the facility agent and security agent, according to a release.

Under the agreement, China Poly Group Corp. must remain the single largest shareholder of Poly Property, maintaining at least 30% of its issued share capital.

As of Feb. 7, China Poly Group and its subsidiaries own an interest of roughly 47.32% of the Poly Property's issued ordinary share capital.