HSBC Seeks US$220 Million Claim From China Huishan
September 11 2017 - 9:31PM
Dow Jones News
By Joanne Chiu
China Huishan Dairy Holdings Co.(6863.HK) said late Monday that
HSBC Holdings PLC (0005.HK) is seeking a combined US$220 million
claim from the troubled milk producer after it filed to repay its
loans.
China Huishan has received two letters from HSBC stating that it
declared all loans, accrued interests and other outstanding amounts
under the facility agreement to be immediately due and payable, as
one or more events of default have occurred and were continuing.
The deadline for payment is within 3 days from Monday, it said.
HSBC's claims include a US$200 million loan agreement and unpaid
accrued interest of US$6.37 million. It also terminated another
loan facility and demanded immediate repayment of US$13.7
million.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
September 11, 2017 21:16 ET (01:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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