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Mencast enters into banking facility agreements with UOB

PC Lee Published on Mon, Aug 22, 2016 / 8:30 AM GMT+8

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BEIJING (Aug 22): Mencast Holdings has managed to enter into banking facility agreements with United Overseas Bank.

This includes a secured loan facility of up to $50.0 million and secured facilities of up to $24.9 million, comprising term loan facility, trade facility and money market credit facility.

Mencast says the funds from the facilities will be used for the redemption of the outstanding bonds of $50 million issued by the company and due on Sept 12, the refinancing of certain existing loan facilities, general trade purposes and general working capital purposes.

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