Brief: Bat Group Enters Into Memorandum Of Understanding With Regional Commercial Bank To Accelerate Business Expansion To New Regions

BAIYU Holdings

20/06/2019 14:18

June 20 (Reuters) - Bat Group Inc  GLG.O :
    * BAT GROUP, INC. ENTERS INTO MEMORANDUM OF UNDERSTANDING
WITH
REGIONAL COMMERCIAL BANK TO ACCELERATE BUSINESS EXPANSION TO NEW
REGIONS
    * BAT GROUP INC - SRCCU AGREES TO ISSUE COMPANY A CREDIT
LINE OF
UP TO US$580 MILLION
    * BAT GROUP INC - AGREES TO USE PROCEEDS FROM LINE TO
PURCHASE
LUXURY CARS, EXPAND ITS OPERATIONS AND SATISFY OTHER WORKING
CAPITAL NEEDS
    * BAT GROUP INC - MEMORANDUM IS A FRAMEWORK AGREEMENT ONLY
    * BAT GROUP INC - TERMS OF DRAW UNDER LINE OF CREDIT WILL BE
AGREED BY PARTIES BASED ON NEGOTIATION.

Source text for Eikon:  ID:nGNXXDQnM 
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