Zai Lab Secures 300 Million Yuan Debt Facility

MT Newswires Live

01-06

Zai Lab (HKG:9688) subsidiary Zai Lab (Shanghai) secured a revolving credit facility worth up to 300 million yuan with the Bank of Communications' (HKG:3328, SHA:601328) Shanghai branch (BOCOM), according to a Monday filing with the Hong Kong bourse.

The facility will be available until September 2025 to support the company's working capital in mainland China. Certain conditions are attached to the facility from BOCOM, including permission requirements from the lender before mergers and acquisitions, equity transfer, and provision of external guarantees exceeding 1.0 billion yuan, or increases in debt financings exceeding 1.5 billion yuan.

The loans will carry a maximum term of 12 months with rates initially linked to the one-year loan prime rate. Zai Lab's subsidiary has yet to benefit from the arrangement, the filing added.

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Certain conditions are attached to the facility from BOCOM, including permission requirements from the lender before mergers and acquisitions, equity transfer, and provision of external guarantees exceeding 1.0 billion yuan, or increases in debt financings exceeding 1.5 billion yuan.</p><p>The loans will carry a maximum term of 12 months with rates initially linked to the one-year loan prime rate. Zai Lab's subsidiary has yet to benefit from the arrangement, the filing added.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0012","symbol_name":"證金概念","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2501267764","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2501267764","pubTimestamp":1736125659,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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