It is reported that Yuandu Optoelectronics Co., Ltd., a wholly-owned subsidiary of BOE, seeks up to 4.5 billion yuan ($728 million) in eight-year financing to support an active matrix organic electroluminescent display (AMOLED) production line. China Development Bank is the lead.
A source pointed out that the price negotiation is not expected to exceed 100% of the benchmark interest rate of the People's Bank of China. According to a statement issued by the company on April 3, the parent company BOE will provide guarantee.
Yuansheng Optoelectronics is located in Erdos, Inner Mongolia. The company's net assets at the end of the third quarter of 2012 were 1.99 billion yuan and liabilities were 17.5 million yuan. According to the BOE announcement, since its establishment on May 30, 2011, Yuansheng Optoelectronics has not yet had revenues. As of September 2012, the net loss was 7.8 million yuan.
BOE and CDB signed a financing cooperation agreement on January 6, and CDB promised to provide BOE with a total of RMB 20 billion in financing during 2013-2014, covering project financing, supplementary working capital, trade financing, mergers and acquisitions, and Securities related purposes.
A source pointed out that the price negotiation is not expected to exceed 100% of the benchmark interest rate of the People's Bank of China. According to a statement issued by the company on April 3, the parent company BOE will provide guarantee.
Yuansheng Optoelectronics is located in Erdos, Inner Mongolia. The company's net assets at the end of the third quarter of 2012 were 1.99 billion yuan and liabilities were 17.5 million yuan. According to the BOE announcement, since its establishment on May 30, 2011, Yuansheng Optoelectronics has not yet had revenues. As of September 2012, the net loss was 7.8 million yuan.
BOE and CDB signed a financing cooperation agreement on January 6, and CDB promised to provide BOE with a total of RMB 20 billion in financing during 2013-2014, covering project financing, supplementary working capital, trade financing, mergers and acquisitions, and Securities related purposes.
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