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Avary Subsidiaries Secure Multi-Currency Credit Facilities

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Avary Holding Shenzhen's (SHE:002938) board approved a series of new and renewed credit facility applications for its subsidiaries, according to a Wednesday filing on the Shenzhen bourse.

The Chinese printed circuit board manufacturer will apply for a new credit facility worth 2.40 billion yuan at the Shenzhenbranch of China Merchants Bank (SHA:600036, HKG:3968) through its subsidiary Qingding Precision Electronics.

Another subsidiary, Peng Shen Technology (Thailand), will renew its $60 million and $110 million credit with Standard Chartered (HKG:2888) and Bank of America, respectively.

Peng Shen will also expand its credit line with United Overseas Bank (SGX:U11) by an additional $100 million.

Avary's shares jumped 5% during morning trade on Wednesday.

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