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| Home : Changfeng Announces RMB50 Million ($7.9Million) Long Term Loan |
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Jan 16
2013 |
Changfeng Announces RMB50 Million ($7.9Million) Long Term Loan |
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TORONTO, ONTARIO--(Marketwire - Jan. 15, 2013) - Changfeng Energy Inc. ("Changfeng" or the "Company") (TSX VENTURE:CFY), a natural gas utility in China, announced today that the Company has entered an agreement with the Bank of China (Sanya Branch) ("BOC") to secure a bank loan facility in the amount of RMB50 million (approximately $7.9 million) (the "Term Loan"). As a result, the BOC has increased the Company's total loan facility to RMB180 million. The bank loan facility provides that the proceeds of the Term Loan will be used to fund continued construction of pipeline and associated facilities of the Haitang Bay project in the Sanya city, Hainan province, China. |
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| Source:http://www.marketwire.com/mw/release.do?id=1746142&sourceType=3 |
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