DaTong Coal to secure 550M yuan in bank loans

摘要

DaTong Coal Industry Co. Ltd. said Feb. 15 that its board has approved a financing plan to apply for bank loans of 550 million Chinese yuan due to a lack of liquidity. Maturity will be three years and the interest rate will be 5% plus the country’s base interest rate, which is currently 4.35%. As of Feb.14, US$1 was equivalent to 6.87 Chinese yuan.