China First Chemical (02121) said it entered into a syndicated loan agreement with BNP PARIBAS Hong Kong Branch and Bank of China Seoul Branch as lenders for a loan facility in the sum of US$30 million with a repayment term of 3.5 years, the interest rate of which is determined with reference to the three-month LIBOR plus 3.5%.
The Group will use these funds for the purposes of setting the capital expenditure and as general working capital of the Group.
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