CR Cement secures $0.5B term loan facility

Byswb

Updated Wed, 22 Dec 2010 00:00:00 GMT

China Resources Cement (CRC) (HKG:1313) announced that on 21 December 2010, the company entered into a facility agreement relating to a HK$0.5 billion 4-year term loan facility with a bank.

Pursuant to the facility agreement, this facility shall constitute an event of default provided that China Resources Holdings (CRH) ceases to be the single largest shareholder holding at least 50% of the issued share capital of the company.

CRH currently owns approximately 73.34% interest in CRC.