Wednesday, 7 September 2016

China bank demands immediate repayment of $19.3 mil from Novo Group

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SINGAPORE (Sept 7): Steel merchant and tin plate producer Novo Group on Tuesday got an interest letter from China CITIC Bank International to Novowell ETP, a 95%-claimed circuitous backup of the gathering, for the reimbursement of about US$14.3 million ($19.3 million) by Sept 12.

In a Wednesday proclamation, Novo says China CITIC, China's seventh-biggest loan specialist as far as aggregate resources, made accessible "certain keeping money offices" to Novowell as a borrower. The aggregate incorporates the remarkable central and accumulated premiums in admiration of the managing an accouSINGAPORE (Sept 7): Steel merchant and tin plate producer Novo Group on Tuesday got an interest letter from China CITIC Bank International to Novowell ETP, a 95%-claimed circuitous backup of the gathering, for the reimbursement of about US$14.3 million ($19.3 million) by Sept 12.

In a Wednesday proclamation, Novo says China CITIC, China's seventh-biggest loan specialist as far as aggregate resources, made accessible "certain keeping money offices" to Novowell as a borrower. The aggregate incorporates the remarkable central and accumulated premiums in admiration of the managing an account offices.nt offices.

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