China: Yantian International Container Terminals (YICT) and Yantian International Container Terminals (Phase III) (YICT Phase III) announced on March 20 that they had separately signed five-year multi-currency term loan facilities with a consortium of banks including the Shenzhen branches of Bank of China, Industrial and Commercial Bank of China and China Construction Bank.
The consortium will provide loan facilities totalling US$650 million to YICT and YICT Phase III in a combination of Hong Kong dollars, US dollars and Chinese RMB. These facilities will be used to repay bank loans and finance the construction, operation and development of the Phase I, II and III projects of Yantian Port.
Tracey Jia
