IN BRIEF (Page 13)
China Daily | Updated: 2011-07-05 07:57
Nine Dragons arranges loan
Chinese papermaker Nine Dragons Paper (Holdings) Ltd said on Monday it will take a 1 billion yuan ($154 million) loan from the Hong Kong branch of China Development Bank to repay bank debt and boost working capital.
The loan is part of a 3.1 billion yuan facility approved by the bank last month, with the remaining 2.1 billion yuan to be made available to Nine Dragons' subsidiaries in China, the company said in a statement to the Hong Kong Stock Exchange.
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