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China Merchants Land secures 1B-yuan term loan

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China Merchants Land secures 1B-yuan term loan

An unnamed bank agreed to provide China Merchants Land Ltd. with a facility not to exceed 1.00 billion yuan at any one time.

The three-year term of the loan starts from June 13 and is subject to a number of conditions.

As of June 13, US$1 was equivalent to 6.40 yuan.