ChinaEverbright Ltd. and a wholly owned subsidiary entered into afacility letter with a third-party bank for a term loan of up to US$150 millionfor a five-year period.

The company said July 15 that it will act as guarantor inthe facility agreement. Under the terms of the agreement, it will be an eventof default if China Everbright Holdings Co. Ltd. ceases to be the singlelargest shareholder of the company or ceases to maintain management control.