Haitong (06837) provides joint and several guarantees for debt financing for its overseas wholly-owned subsidiary.
(06837) issued an announcement that the company entered into an agreement with the Singapore branch of Bank of Communications on December 25, 2024...
Haitong (06837) announced that on December 25, 2024, the company signed a "Guarantee Agreement" with BANKCOMM Singapore Branch, providing joint and several liability guarantee for a $400 million bank loan for its overseas wholly-owned subsidiary HAITONG INT'L Holdings Limited (hereinafter referred to as the guarantor). The loan has a term of not more than 3 years from the date of withdrawal. This loan will be used to replace $670 million of maturing bonds guaranteed by the company, reducing the company's guarantee balance for the guarantor and its subsidiaries by $270 million after the replacement.
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