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Beijing Enterprises Water Unit Gets 99 Million Yuan Loan

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Beijing Enterprises Water Group (HKG:0371) said its wholly owned subsidiary Lanshan Yuntong has secured a 99.1 million yuan loan from connected party Beijing Enterprises Group Finance, according to a Tuesday Hong Kong bourse filing.

The 18-year loan carries a floating interest rate based on the five-year loan prime rate minus 0.61 percentage points and will be secured by the earnings rights of Lanshan District's sewage treatment plant in Rizhao.

The proceeds will be used to refinance an existing bank loan for a sewage treatment improvement and sludge project in Rizhao, as well as to cover construction costs.

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