COSCO SHIPPING Ports (HK:1199) has released an update.
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COSCO SHIPPING Ports Limited has announced the extension of a shareholder’s loan with a maturity date now set for June 18, 2029, and an interest rate of EURIBOR plus 2% per annum. The loan extension involves an indirect non-wholly owned subsidiary of the company and is not subject to the notification and announcement requirements of the Hong Kong Stock Exchange, as all applicable ratios are below 5%. This financial maneuver is expected to provide continued working capital for Euromax, with no change to other major terms of the agreement.
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