DGAP-News: Tianbao Holdings Signs Term Sheet to Raise US$45 million
(firmenpresse) - DGAP-News: Tianbao Holdings Ltd. / Key word(s): Agreement
Tianbao Holdings Signs Term Sheet to Raise US$45 million
15.08.2013 / 08:00
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Zhengzhou China PRC - Wednesday - August 12, 2013 - Tianbao Holdings
Signs Term Sheet to Raise US$45 million.
(Ticker: 3TB1 ) The board of directors announced today that following
the appointment of The Quro Trust in February 2013, to commission a US$50
million bond feasibility study for Tianabo Holdings, Quro recommended that
Tianbao proceed with a loan funding instead of proceeding with a bond
issue.
In addition to the recommendations, The Quro Trust also facilitated
introductions to private investors and major international and Chinese
institutions, who expressed an interest in funding the loan.
As a result of these efforts an outline term sheet for a $45,000,000 USD
loan has been signed between Tianbao and the funding parties, and a
mandatory site visit has already been completed.
At this time, It is anticipated that lawyers for Tianbao, The Quro Trust,
and the funding parties will be instructed to draw up and review a
definitive agreement for the $45,000,000 USD funding and it is anticipated
that definitive agreement could be reached by the end of October 2013.
Commenting on the progress, Steve Medley, the trustee of The Quro Trust,
stated that he is pleased with the progress to date and feels is that if
the transaction closes, that this will be a major milestone for Tianbao
Holdings, Ltd .
He went on to say that both sides of working diligently towards closing the
transaction and all matters relating to exchange control have been
resolved.
He went on to say that he anticipates a further announcement being made in
the next 45 days.
About The Quro Trust
The Quro Trust is an admitted Broker on the GXG Markets UK and a registered
New Zealand Financial Service Provider (FSP62941). With Head Offices in
ChristChurch New Zealand, The Quro Trust specializes in funding public
companies world wide.
About Tianbao Holdings:
Tianbao Holdings (the 'Company') is an economically-affordable housing
manufacturer in the People's Republic of China. The Company works closely
with the Chinese government in acquiring the land for new housing
developments and constructing the homes per the specifications of the
housing plans of both the national Chinese government as well as the
provincial governments, in particular Henan Province, wherein all of the
Company's projects to date have been located.
Please address questions to : tianbaoholdings(at)gmail.com.
Safe Harbor Statement; The statements contained herein are forward-looking
statements that are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed in the
forward-looking statements.
End of Corporate News
End of Corporate News
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226030 15.08.2013
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Datum: 15.08.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 287999
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Kategorie:
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