Weigao Group (01066) announced that on December 6, 2024, the company and Weigao International Holding Corporation Pte. Limited (a wholly-owned subsidiary of the company) (collectively referred to as "the borrowers") entered into a loan agreement with the International Finance Corporation, a member of the World Bank Group and the world's largest development institution focused on emerging markets, under which loans amounting to a principal total not exceeding 0.25 billion USD will be provided to the borrowers in accordance with the terms and conditions set forth in the loan agreement. Starting from March 15, 2029, each of the borrowers will repay the loans in 7 installments approximately every six months in equal amounts, with the final installment due on March 15, 2032. The board of directors believes that these loans will facilitate the company's business expansion in Southeast Asia and capital expenditure and R&D investment in China.
According to the Zhituo Finance APP, Weigao Group (01066) announced that on December 6, 2024, the company and Weigao International Holding Corporation Pte. Limited (a wholly-owned subsidiary of the company) (collectively referred to as "the borrowers") signed a loan agreement with the International Finance Corporation, a member of the World Bank Group and the world's largest development institution focusing on emerging markets, under which loans amounting to a principal total not exceeding 0.25 billion USD will be provided to the borrowers according to the terms and conditions stated in the loan agreement. Starting from March 15, 2029, each of the borrowers will repay the loans in 7 installments, every six months, in approximately equal amounts, with the final installment due on March 15, 2032. The board of directors believes that these loans will promote the company's business expansion in Southeast Asia and capital expenditure and R&D investment in China.