Yuchai enters into Loan agreement with HLGE
China Yuchai International Limited ("China Yuchai" or the "Company"), announced last week that its wholly owned subsidiary Venture Lewis Limited ("VLL") has entered into a loan agreement with HL Global Enterprises Limited ("HLGE") to refinance the zero coupon, unsecured, non-convertible bonds ("Bonds") issued in 2006 and due to mature on July 3, 2009 ("Maturity Date").
The amount of the Bonds held by VLL to be redeemed on Maturity Date is S$103,895,294 comprising S$87,010,673 in principal amount plus a gross redemption yield of S$16,884,621. Another wholly owned subsidiary of China Yuchai, Grace Star Services Ltd. ("Grace Star"), currently owns 45.39% of the issued ordinary shares of HLGE. VLL and Grace Star had commencing from February 2006, acquired a combination of debt and equity securities in HLGE, which is listed on the Main Board of the Singapore Exchange Securities Trading Limited.
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