Edition:
India

China XD Plastics Signs Deleveraging Investment Framework Agreement


Monday, 5 Nov 2018 

Nov 5 (Reuters) - China XD Plastics Company Ltd::SIGNING OF DELEVERAGING INVESTMENT FRAMEWORK AGREEMENT WITH CCB FINANCIAL ASSET INVESTMENT & CHINA CONSTRUCTION BANK.UPDATING ITS FINANCIAL GUIDANCE FOR FISCAL 2018 TO RANGE BETWEEN $1 BILLION AND $1.2 BILLION IN REVENUE.CCB FINANCIAL AND CCB HLJ ARE PLANNING TO PROVIDE ESTIMATED ABOUT US$289 MILLION CAPITAL TO XINDA GROUP.DEFINITIVE AGREEMENTS WILL BE SUBJECT TO SATISFACTORY DUE DILIGENCE BY CCB FINANCIAL AND CCB HLJ.SEES FISCAL 2018 NET INCOME TO RANGE BETWEEN $70 MILLION AND $80 MILLION.FROM DUBAI PRODUCTION BASE, SEES 11.25 THOUSAND METRIC TONS ANNUAL CAPACITY IN 2019.CO'S UNIT WILL USE CAPITAL PROVIDED BY CCB TO REPAY ITS LOANS & OTHER PURPOSES.PROVIDES BUSINESS OUTLOOK.