28th Jun 2016 10:38
LONDON (Alliance News) - Adamas Finance Asia Ltd on Tuesday said it has received full repayment of the USD2.4 million loan advanced to portfolio company Changtai Jinhongbang Real Estate Development Co Ltd in June 2014.
Adamas, which provides capital for Chinese small and medium sized enterprises in need of short-term bridging finance, has an indirect 15% interest in Changtai through loans.
The recently repaid loan carried a coupon of 10% per annum, payable six monthly and had a two-year term.
Funding for the loan was originally provided to Adamas by Elypsis Solutions Ltd, a major shareholder of Adamas, through a loan with a coupon of 9.0% per annum, payable six monthly, which has also now been repaid, Adamas said.
Shares in Adamas were untraded on Tuesday, having last traded at USD0.450.
By Hannah Boland; [email protected]; @Hannaheboland
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