HSBC Seeks US$220 Million Claim From China Huishan

By Joanne Chiu Features Dow Jones Newswires

China Huishan Dairy Holdings Co.(6863.HK) said late Monday that HSBC Holdings PLC (0005.HK) is seeking a combined US$220 million claim from the troubled milk producer after it filed to repay its loans.

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China Huishan has received two letters from HSBC stating that it declared all loans, accrued interests and other outstanding amounts under the facility agreement to be immediately due and payable, as one or more events of default have occurred and were continuing. The deadline for payment is within 3 days from Monday, it said.

HSBC's claims include a US$200 million loan agreement and unpaid accrued interest of US$6.37 million. It also terminated another loan facility and demanded immediate repayment of US$13.7 million.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

September 11, 2017 21:16 ET (01:16 GMT)