Brief: Global Bio-Chem Says Export-Import Bank Transferred To Jilin Branch Of China Cinda Asset Management All Rights Under Changchun Dahe Loan

Global Bio-chem Technology Co

08/03/2022 09:37

March 8 (Reuters) - Global Bio-chem Technology Group Co Ltd
 0809.HK :
    * EXPORT-IMPORT BANK TRANSFERRED TO JILIN BRANCH OF CHINA
CINDA
ASSET MANAGEMENT ALL RIGHTS UNDER CHANGCHUN DAHE LOAN
    * NOTIFIED BY EXPORT-IMPORT BANK THAT IT HAS ENTERED
TRANSFER
AGREEMENTS WITH JILIN BRANCH OF CHINA CINDA ASSET MANAGEMENT
    * GROUP WILL CONTINUE DISCUSSION ON NEXT STEP OF DEBT
RESTRUCTURING WITH NEW CREDITOR
    * EXPORT-IMPORT BANK ALSO TRANSFERRED TO NEW CREDITOR
PORTION OF
DACHENG BIO-TECH LOAN OWED TO EXPORT-IMPORT BANK
    * EXPORT-IMPORT BANK TRANSFERRED RIGHTS UNDER CHANGCHUN DAHE
LOAN
AND PART OF DACHENG BIO-TECH LOAN OF ABOUT RMB1.2 BILLION
    * CURRENTLY EXPECTED THAT FURTHER PROGRESS OF DEBT
RESTRUCTURING
PLAN WILL BE MADE BY END OF 2022


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