Nanofilm Secures 50 Million Yuan Term Loan from ICBC

MT Newswires

03-26

Nanofilm Technologies International (SGX:MZH) unit, Nanofilm Vacuum Coating (Shanghai), secured a three-year, 50 million yuan (SG$9.2 million) term loan from Industrial and Commercial Bank of China (SHA:601398, HKG:1398) to fund working capital, according to a Tuesday filing on the Singapore Exchange.

The loan is secured by a mortgage over Shanghai Plant 1 and Plant 2, owned by Nanofilm Renewable Energy Technology (Shanghai), and a corporate guarantee from Nanofilm. It is also backed by a pledge over two utility patents owned by Nanofilm Vacuum Coating.

A default would be triggered if Shi Xu, Nanofilm's executive chairman, ceases to control Nanofilm Vacuum Coating or if there's a change of control between Nanofilm Vacuum Coating and its related parties.

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It is also backed by a pledge over two utility patents owned by Nanofilm Vacuum Coating.</p><p>A default would be triggered if Shi Xu, Nanofilm's executive chairman, ceases to control Nanofilm Vacuum Coating or if there's a change of control between Nanofilm Vacuum Coating and its related parties.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999006597.SGD","symbol_name":"United China-India Dynamic Growth SGD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2522583768","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2522583768","pubTimestamp":1742945110,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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