Annual Report - QuamIR

Report of the Directors (Continued)
Continuing Connected Transactions (Continued)
(ii) Guarantees to CRE and its subsidiaries (Continued)
a. The Guarantees (Continued)
The loan in the sum of RMB300
million (approximately HK$370.3
million) was originally granted and
utilized. The loan was a term loan
and carried interest 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 based
on the PBOC Benchmark Rate then
in effect, as prescribed in the facility
agreement.
(ii)
a.
300,000,000
370,300,000
As at 31 December 2011, the total
outstanding principal was RMB250
million (approximately HK$308.6
million); and the extent of the
Guarantee was for the same
amount.
250,000,000
308,600,000
Repayment and
maturity dates of
loan facility
: The loan is repayable by
installments scheduled over the
term of the loan as provided in the
facility agreement over the term of
the loan, with the final maturity date
falling on 22 December 2021.
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