Specialty Chemical Company China XD Plastics Announces Drawdown Of $135M Loan Financing

China XD Plastics Company Limited (NASDAQ:CXDC) ("China XD Plastics" or the "Company"), one of China's leading specialty chemical companies engaged in the development, manufacture and sale of

Benzinga · 12/20/2019 14:21

China XD Plastics Company Limited (NASDAQ:CXDC) ("China XD Plastics" or the "Company"), one of China's leading specialty chemical companies engaged in the development, manufacture and sale of polymer composite materials primarily for automotive applications, announced today the drawdown of US$135 million of loan financing pursuant to the facility agreement entered into on October 2, 2019, among others, Xinda Holding (HK) Company Limited and a consortium of banks led by the Industrial and Commercial Bank of China (Macau) Limited (the "Facility Agreement"). The full amount has been utilized to refinance certain of Xinda Holding (HK) Company Limited's outstanding debts, as well as to pay fees, costs and expenses relating to the refinancing.