Beijing Capital Grand's (HKG:1329) subsidiaries, Capital Outlets (Kunshan) Business Development and Capital Dongxing (Kunshan) Business Development, agreed to pay guarantee fees to the company's controlling shareholder, Beijing Capital City Development Group.
The guarantee fees are for Beijing Capital City Development's provision of guarantees for certain property management loans granted to the subsidiaries by China Construction Bank (HKG:0939, SHA:601939), a Wednesday Hong Kong bourse filing said.
Both entrustment guarantee agreements have a term of three years.
The guarantee fees will be calculated based on 0.7% per annum of the principal amounts of the two loans, which can have maximum principal amounts of 320 million yuan and 200 million yuan.
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