On the afternoon of June 2, at the Fortune Center on the 19th floor of the Bank of China Building in Hangzhou, the Red Lion Group successfully signed a syndicated loan for the Laos project. Yu Qun, Vice President of Zhejiang Branch of Bank of China, Chen Xin, Vice President of Zhejiang Branch of Export-Import Bank of China, Chen Keqin, Vice President of Vientiane Branch of Bank of China, and Zhang Xuxi, Vice President of Red Lion Holding Group Co., Ltd., signed the agreement on behalf of the four parties, marking a substantial step forward in the financing service of Red Lion Group's Laos "One Road and One Belt" project.
The signing ceremony was presided over by Wang Quan, President of Jinhua Branch of Bank of China. Guo Xingang, President of Bank of China Zhejiang Branch, Chen Xin, Vice President of Export-Import Bank of China Zhejiang Branch, and Zhang Xiaohua, Chairman of Red Lion Holding Group, delivered speeches respectively.
President Guo Xingang said that the success of Red Lion Group's Laos project was the successful practice of the Bank of China, Vientiane Branch and our bank working together to give full play to their respective professional advantages in cross-border business and ultimately achieve win-win results. Bank of China will take this signing as an opportunity to further develop the advantages of internationalization, diversification and specialization. From payment and settlement, credit guarantee, financing, risk management, financial operation and other dimensions, we will work hand in hand to provide strong credit guarantee and service support for Red Lion Group.
Chen Xin, vice president of the Zhejiang Branch of the Export-Import Bank of China, said that he would further develop the advantages of state-owned policy banks, work with the Bank of China to provide comprehensive financial services, and fully support the Red Lion Group's investment pace in the "the Belt and Road".
Zhang Xiaohua, Chairman of Hongshi Group, expressed his sincere gratitude to Zhejiang Branch of Bank of China, Zhejiang Branch of Export-Import Bank of China, Vientiane Branch of Bank of China, Jinhua Branch and Lanxi Branch of Bank of China, which have always been concerned about and supported the development of Hongshi Group. He said that with the support of syndicated loans, Hongshi Group would speed up the expansion of overseas markets and strive to build a first-class enterprise in China's cement industry.
Hongshi Group is one of the top 500 enterprises in China, one of the top 500 private enterprises in China and one of the twelve large-scale cement enterprises supported by the state. It is also the largest private building materials enterprise in China and the "leading" enterprise in Zhejiang cement industry. Since 2003, our bank has always attached great importance to the cooperation with Hongshi Group, and has carried out multi-level, multi-field and all-round business contacts in financing credit, medium-term bills, short-term financing, bill pool and other aspects, and has successively done internal syndicated business for Xinjiang Kuqa Hongshixu, off-site credit business for Ningbo Hongshixu, and has also taken the lead in providing overseas project loans in Myanmar, Nepal and Laos. Especially at the end of 2015, after learning that Red Lion Group intends to launch several new dry-process cement production lines in Nepal and Laos respectively, our bank attached great importance to it. President Guo Xingang, Vice President Yu Qun and other leaders of the bank personally led the team to visit for many times, and jointly established a special financial service team with Jinhua Branch. During this period, after repeated investigations and demonstrations, and taking full account of local conditions, exchange rate fluctuations, geopolitics and other risk factors, the Bank carefully designed an international syndicated scheme combining "internal guarantee and external loan" and "cross-border direct loan" for the Group, and introduced the Export-Import Bank of China and other financial institutions, as well as Sinosure and well-known law firms to jointly promote the implementation of the scheme.
The first successful signing of the Laos project syndicated loan not only marks a new step in the cooperation between banks and enterprises, but also fully demonstrates the professional level and business ability of the Bank of China in dealing with complex cross-border investment projects.
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