HONG KONG, June 23, 2014 /PRNewswire/ -- China Zhongwang Holdings Limited ("China Zhongwang" or the "Company", together with its subsidiaries the "Group", stock code: 01333), the second largest industrial aluminium extrusion product developer and manufacturer in the world and the biggest one in Asia and China, today announced the signing of a USD500 million three-year syndicated term loan facility agreement with a consortium of 19 international financial institutions. The syndicated term loan carries an interest rate of 275 basis points over LIBOR. The competitive interest rate allows China Zhongwang to maintain low financing cost.
Mr. Lu Changqing, Executive Director and Vice President of China Zhongwang, said: "We are pleased to have received the support from a number of global financial institutions at such a competitive cost amid the current financial environment. The signing of the facility agreement demonstrates the banking community's confidence in China Zhongwang's direction of development and growth potential. In the meantime, the outstanding business performance of China Zhongwang over the past years has laid a sound foundation for the successful signing of this transaction."
The sole global coordinator of the syndicated loan facility is Bank of China Limited, Macau Branch. China Development Bank Corporation Hong Kong Branch, Bank of China Limited, Macau Branch, Industrial and Commercial Bank of China (Macau) Limited, Bank of America, N.A and the Royal Bank of Scotland PLC joined Bank of Taiwan, Hong Kong Branch, Ping An Bank Co., Limited, and Nomura International (Hong Kong) Limited as the mandated lead arrangers and bookrunners. With the full support by the aforementioned parties, the transaction marks an important milestone in China Zhongwang's participation in international capital market.
