-- China Northern Rare Earth (SHA:600111) plans to renew its financial services agreement with Baogang Group Finance for three more years, according to a Shanghai bourse filing on Saturday.
The Chinese rare earth products producer's shares jumped over 3% at the close of Monday's trade.
Under the new deal, the daily maximum deposit balance is capped at 6.5 billion yuan.
National Standards (India) (BOM:504882) Chief Financial Officer Rameshchandra Chechani has resigned, effective April 17, citing personal reasons, according to a same-day filing on the BSE.Shares of the company rose over 1% in recent trade.The company appointed Rohit Singhvi as its new CFO.Singhvi is currently associated with Lodha Group. He previously held leadership roles at Cable Corporation of India and Man Industries (India), the filing said.
Advance Residence Investment (TYO:3269) has secured debt financing totaling 3.05 billion yen from two lenders to repay existing debts, according to a Tokyo bourse filing on Monday.Sumitomo Mitsui Banking Corp. will provide the REIT a 1.55 billion seven-year loan at a base rate plus 0.16% interest, while SBI Shinsei Bank will lend another 1.5 billion yen 8.5-year loan at an unfxed rate.The funds, with a drawdown date of April 30, will be used to repay a maturing loan of 1.55 billion yen and to fully prepay a 1.5 billion yen in outstanding short-term borrowings under a commitment line agreement.
Nittetsu Mining (TYO:1515) said it will invest $3.5 million to acquire an 80% stake in a US copper project through its subsidiary, according to a Monday filing on the Tokyo Stock Exchange.The company will capitalize its newly established US unit and use it to invest in Wedgetail Operations, which is developing the Oracle Ridge copper project in Arizona.Following the transaction, the US unit will remain wholly owned, while Wedgetail Operations will become a second-tier subsidiary.