First loans made under new acquisition financing rules
March 17, 2009 | BY
clpstaff &clp articlesCDB and Bank of Communications help support deals
Share:
China Development Bank has made the first loan to finance an acquisition since the promulgation of new rules at the end of last year.
The bank provided a loan of Rmb1.63 billion (US$238.5 million) to help fund CITIC Group and CITIC Guoan Group's investment in Baiyin Nonferrous Metal (Group). The loan will make up about half of the total investment in the producer of nonferrous metals, which is located in Lanzhou, Gansu Province.