Jiatong Tire signed 225 million U.S. dollars loan deal
Reuters Hong Kong August 10, 2011 --- Thomson Reuters's electrical basis points reported, banking sources said, as the commission-sponsored firms and credit line assigned by Deutsche Bank China GITI tires $ 225 million 3.5-year term loan case It has been signed. Nine banks had previously joined the loan syndicate.
The average duration of the loan is 2 years, and the ceiling fee for all expenses is about 400 basis points. The interest rate is 325 basis points over the London LIBOR.
The loan was secured by a U.S. buyer’s receivable from Jiatong Tire, and the loan funds will be used to refinance the old debt.
Giti Tire is one of the largest automotive tire manufacturers in China and is headquartered in Shanghai and incorporated in Singapore.
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