Yingda recasts loan after shareholding change

Beijing_230
By Shruti Chaturvedi
02 Sep 2016

Yingda International Leasing, which launched a $200m syndicated loan in January, has modified the deal's terms after a change in ownership.

When the transaction went into general syndication, the company was owned equally by China's State Grid Corp and the US's General Electric. However, China State Grid later became the borrower's sole shareholder, said a banker familiar with the situation.

The loan documentation contained certain covenants related to shareholding ...

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