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BOC Signs 600m HK$ Loan with Macao Airport
June 12 saw the Macao branch of Bank of China (BOC) sign a temporary loan agreement worth HK$600m with Macao Airport Management Corporation.
The one-year-termed temporary loan, as reported, is to pay the HK$ 600 m. bonds due on June 16, which was part of the 1.2bn bonds issued June 16, 1994 to raise funds for the airport construction. The loan was guaranteed by private shareholders of the Corporation.
The Macao government is a shareholder taking up 51 percent of the Corporation, and the rest is shared out among small private shareholders. But before this, the government of Macao SAR have signed a contract with the Corporation to extend its management rights to 25 years.
By PD Online staff member Li Heng
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