Yantai Raffles secures $150m China Development Bank loan
CHINESE shipbuilder Yantai Raffles has signed a $150m loan with China Development Bank for refinancing and working capital. Yantai Raffles is borrowing $150m from CDB through a three-year term-loan facility to replace existing more expensive short term loan facilities and to build on its Chinese banking relationships. “Securing this facility with CDB, Yantai Raffles has achieved an outcome that absolutely meets these two core objectives,” said Yantai Raffles chairman Mai Bo Liang.
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