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HONG KONG, Aug 25, 2014 - (ACN Newswire) - Baoxin Auto Group Limited (HK1293) is pleased to announce that it entered into an agreement in relation to a US$216 million term loan facility (the "Facility") on August 21 2014. The Facility is denominated in US$ with a term of three years and carries a margin of 3.70% over LIBOR. Guaranteed by the Company's several investment holdings subsidiaries, this new Facility will be used to repay the Company and its subsidiaries' existing debt, provide working capital, and finance new investment.
Standard Chartered Bank (Hong Kong) Limited ("Global Coordinator"), Morgan Stanley Asia Limited and Chang Hwa Commercial Bank, Ltd., Hong Kong Branch are collectively the Mandated Lead Arrangers and Bookrunners ("MLABs") for the Facility. An additional 13 international and regional banks participated in the transaction and the Facility was materially over-subscribed.
Topic: Press release summary
Source: Grand Baoxin Auto Group Limited
Sectors: Daily Finance, Automotive, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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