China Huishan Dairy Gets Notice on Alleged Breach of Loan Facility

By Gaurav Raghuvanshi Features Dow Jones Newswires

China Huishan Dairy Holdings Co. Ltd. (6863.HK) has received a letter from the Macau branch of Bank of China Ltd. (601988.SH 3988.HK) on the alleged breach of a loan facility agreement, according to a regulatory filing from the company.

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The letter, dated April 28, says that the maturity date of a US$50 million loan facility has passed and both the principal amount of the loan and interest on it are outstanding.

BOC Macau has asked the company to repay the amount by May 16, China Huishan, whose shares were suspended on Monday by the Hong Kong's securities regulator, said in a statement late last night.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

May 08, 2017 21:08 ET (01:08 GMT)