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2002-7-9 09:05:00 a.m. HKT, XFNA
Shanghai Allied, Tian China reach reciprocal loan guarantee agreement
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HONG KONG (AFX-ASIA) - Shanghai Allied Cement Ltd (1060.HK) said it has
reached a reciprocal loan guarantee agreement with Tian An China Investments
Co Ltd.
Tian An China Investments holds a 54.77 pct stake in the company, it said.
Under the agreement, Shanghai Allied's subsidiaries will serve as the
guarantor for the units of Tian An in future borrowings. Additionally, Tian
An's units will provide the same borrowing guarantee to the subsidiaries of
Shanghai Allied, it said.
The agreement will only apply to their subsidiaries in mainland China, it
said, adding that both parties can charge a guarantee fee of 1.0 pct of the
borrowing principal.
wl/bmm
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