BeiGene (HKG:6160, SHA:688235) entered into a $400 million facility agreement with China Merchants Bank (HKG:3968, SHA:600036) on Tuesday, a same-day filing with the Hong Kong Exchange said.
The facility agreement will provide the company with an uncommitted and unsecured credit facility where each loan will have a term of up to one whole year while the overall term for the total loan is set at 18 months from the signing date.
The company plans to use the borrowing for refinancing its working capital loans with other banks and for the group's daily operations.
The company entered a similar facility agreement with the bank in 2023. The agreement will terminate in January 2025. Out of the $400 million facility, $380 million was withdrawn by the company, which plans to pay back $300 million this month, the filing said.
The $80 million remaining from the previous facility agreement will be counted toward the availability under the new facility agreement.
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