Joy City Property Limited (HK:0207) has released an update.
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Joy City Property Limited has secured a term facility agreement amounting to US$400 million for refinancing its debt, with the facility maturing in 36 months. The agreement includes specific conditions related to the controlling shareholder COFCO Corporation, where any change in control or ownership could trigger a default. Continuous disclosure regarding the facility will be included in the company’s interim and annual reports as long as the obligations under the agreement persist.
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