China Vanke's (HKG:2202, SHE:000002) substantial shareholder, Shenzhen Metro Group, agreed to provide a three-year loan of up to 2.8 billion yuan to the company, a Monday Hong Kong bourse filing said.
On the same day, the parties executed a share pledge agreement, securing the loan with 211,530,417 shares held by the company in Onewo (HKG:2602).
The real estate developer will use proceeds from the loan to repay various debts it has issued in the open market.
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