25th Jun 2014 10:42
LONDON (Alliance News) - Hutchison China MediTech Ltd Wednesday said it has has refinanced its existing loan facility with a new, four-year term loan facility for up to HKD210 million, equivalent to roughly USD27.0 million.
The China-based healthcare group said it recently entered into a guarantee fee agreement with Hutchison Whampoa Ltd, one of its major shareholders and lenders.
"The refinanced loan facility we have arranged represents, in our view, a practical, cost efficient and non-dilutive financing option for Chi-Med," said Chief Executive Christian Hogg in a statement.
Shares in the company were up 1.2% at 860.00 pence Wednesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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