Yunfeng Financial Group's (HKG:0376) unit YF Life Insurance International agreed to provide New Alternative with a secured, non-revolving term loan facility worth HK$7.6 billion, subject to shareholder approval, a Friday filing with the Hong Kong bourse said.
New Alternative will invest all the funds from the facility, with Yunfeng Capital as an investment manager, according to the insurer.
The borrower will pay a base interest of 5.5% per annum on the outstanding amount, as well as a potential bonus interest. Under the agreement, YF Life Insurance International may receive a total interest income of up to 80% of the net return from the investments.
New Alternative is a unit of Yunfeng Capital, which is 60%-owned by Yu Feng, chairman and a controlling shareholder of Yunfeng Financial Group.
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