Annual Report - QuamIR

Report of the Directors (Continued)
Continuing Connected Transactions (Continued)
(ii) Guarantees to CRE and its subsidiaries (Continued)
a. The Guarantees (Continued)
(2) Date : 3 March 2006
(ii)
a.
(2)
Project company
(borrower)
:
(Hong Kong Wind Power (Muling)
Company Limited), which is
currently a non-wholly owned
subsidiary of CRE.
Amount secured
: The Guarantee provided for this
project company was given in
favour of the bank to secure
repayment of all monies due from
the operating company to the bank
under the loan facility, including the
principals, interests accrued and
losses, damages and other monies
payable under the loan facility.
The loan in the sum of RMB200
million (approximately HK$246.8
million) was originally granted and
200,000,000
utilized. The loan was a term loan
246,800,000
and carried interest, settled
quarterly, at such annual rate as
agreed with lending bank,
determined by reference to PBOC
Benchmark Rate for loans of the
same grade and tenure. The
interest rate will be adjusted
annually on each anniversary of the
date of related advancement (and,
in relation to an extended term
agreed by lending bank, on each
anniversary of the date falling
immediately after the original
maturity date) based on the PBOC
Benchmark Rate then in effect, as
prescribed in the facility agreement.
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