Good news! Our first loan USD 2,080,000 has been successfully applied
by Oman client who intends to build a 180T/D flour mill. The load is
guaranteed by HBA’s largest shareholder-Hebei Provincial No. 6
Construction Co., Ltd and contributed by Hebei Citic Bank.
In order to support HBA, Hebei Provincial No. 6 Construction Co., Ltd
applied for loans of USD 80,000,000 this time for the specified purpose
of giving loans to milling machine clients only.
The monthly interest rate is below 0.45%.
This loan is only for 2014. If the fund is not used out by the end of
2014, the balance amount will be reimbursed to China Citic Bank and the
loan for 2015 will be applied again.
--HBA Office
