West China Cement says in final stage of negotiating a US$60m credit facility

West China Cement says in final stage of negotiating a US$60m credit facility
Published: 30 May 2008

China-based cement producer West China Cement Ltd. said it is in the final stage of negotiating a US$60m credit facility with an international bank.
 
The company said pursuant to the terms of the facility, it will enter into an instrument constituting warrants to purchase shares in the company.
 
West China Cement said it will also issue warrants to the lender of the facility to subscribe for shares in the company pursuant to the terms of the warrant instrument.
 
The company intends to use the funds raised to part-finance its RMB640m Ankang project, a new 1.8Mt capacity plant in the southeast of Shaanxi province.