OREANDA-NEWS. December 06, 2012. CITIC Resources Holdings Limited (“CITIC Resources” or the “Company”) (Stock Code: 1205) announced that the Company has concluded a five-year USD 400 million term loan facility (the “Facility”) with a syndicate of 17 financial institutions led by Mizuho Corporate Bank, Bank of Taiwan, Taiwan Cooperative Bank, Cathay United Bank and Chinatrust Commercial Bank as Mandated Lead Arrangers and Bookrunners, reported the press-centre of CITIC. 

The Facility was targeted at the Taiwan banking market and has received overwhelming responses that the final size of the Facility was doubled from the initial level of USD 200 million to USD 400 million.

Mr. Zeng Chen, Vice Chairman and Chief Executive Officer of the Company, commented, “We are very pleased with the enthusiastic support from the Taiwan banking market which cast another strong vote of confidence on our company. This Taiwan focused Facility has not only helped bring in additional financial flexibility, but also open up doors for us to get reach to new lending base.

To further our business development, the Company will continue to seek to diversify funding channels while lowering the overall finance cost.”

About CITIC Resources Holdings Limited
CITIC Resources Holdings Limited has been listed on the Hong Kong Stock Exchange since  1997.

The Company positions itself as an integrated provider of strategic natural resources and key commodities with particular focus on the oil and coal businesses. Principal activities of the Company include the exploration, development and production of oil and coal, the import and  export of commodities as well as investments in aluminium smelting and manganese. CITIC Group Corporation is the largest shareholder with approximately 59% interest in the Company.