Kai Yuan (HKG:1215) along with Paris Marriott Hotel and Société Générale have agreed to extend the maturity date of the company's 175 million euros bank loan from Oct. 14 to Nov. 30.
The company had obtained the said loan from Societe Generale Corporate & Investment Banking for the initial acquisition of the Paris Marriott Hotel in France.
The parties had been discussing a renewal for the loan and the bank had offered key terms for the renewal.
As the parties are in the process of finalizing the terms which require more time to finalize, the parties have decided to extend the maturity date for the current loan.
The heat energy producer and supplier's shares jumped over 5% on Monday's close.
Price (HKD): $0.02, Change: $+0.0010, Percent Change: +5.26%
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