Singapore: Singapore-listed Chinese yard JES International Holdings has entered into a loan and maintenance agreement with an unspecified US-based private investment fund.
Under the agreement, the fund will extend a loan facility amounting to a maximum of $20m for three years at a one-time upfront fee of 5% and an annual maintenance fee of 5% per annum. JES also has an option for an additional $20m under the same conditions, if approved by the fund subsequently. JES will utilise the funds available for working capital purposes and any potential merger and acquisition opportunities that may come along. [30/08/13]
