Summary by Futu AI
Yuexiu Property Limited ("Yuexiu Property") announced on November 11, 2024, that its wholly-owned subsidiary, Horizon View Limited, has signed two financing agreements with a bank, involving a total amount of 3.5 billion Hong Kong dollars. The first financing agreement is for a revolving loan of up to 500 million Hong Kong dollars, with a term of 364 days; the second is a fixed-term loan of 3 billion Hong Kong dollars, with a term of 3 years. The terms of the financing agreements stipulate that if the holding of Yuexiu Enterprise (Group) Limited, the controlling shareholder of Yuexiu Property, falls to less than 30%, or if it loses its position as the largest beneficial shareholder and management control of Yuexiu Property, it will constitute a default, and the lenders have the right to declare all debts due immediately. Currently, Yuexiu Enterprise holds approximately 44% of Yuexiu Property's shares.