CR Cement secures $1B term loan facility

Byswb

Updated Mon, 21 Jun 2010 00:00:00 GMT

China Resources Cement(CR Cement) has entered into a $1 billion term loan facility agreement with a syndicate of banks.

Pursuant to the agreement, it shall be an event of default if China Resources (Holdings) (CRH) ceases to own more than 51% of the issued share capital of CR Cement except with the prior written consent of the lenders. As at 17 June 2010, CRH owned approximately 73.34% of the issued share capital of CR Cement.