Chinese bank signs US$103m loan deal with Texhong Textile Group

The Bank of China has signed a US$103m syndicated loan for a Vietnam-based subsidiary of Chinese yarn manufacturer Texhong Textile Group.

The loan, provided by eight foreign and Vietnamese banks, including Bank of China’s Ho Chi Minh City Branch, will be used to expand production of Texhong Galaxy Technology, which was established in the northern Vietnamese province of Quang Ninh, with investment capital of US$300m.

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