Wee Hur (SGX:E3B) has provided a corporate guarantee of around HK$596.2 million to HSBC in support of banking facilities granted to subsidiary, Wee Hur Belmont, according to a Friday filing with the Singapore Exchange.
The property developer's unit had acquired facilities worth around HK$662.4 million to finance the development of a purpose-built student accommodation project.
The company's guarantee represents 90% of the principle, in line with the unit's stake in the joint venture.
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