The working capital loan project of BorsodChem Zártkörűen Működő Részvénytársaság, a subsidiary of Wanhua Industry Group Co., Ltd. (“Wanhua Industry”) has been completed recently. The lender of this project is China EximBank, which provides a working capital loan about EUR 200 million to the borrower BorsodChem Zártkörűen Működő Részvénytársaság. Wanhua Industry provides guarantees for this loan. This project is one of the achievements of the Sixth China-East Europe Governments Leaders’ Meeting.

Wanhua Industry is a multinational investment holding company. It owns four subsidiaries, and its core business is MDI PU. It will diversify into five related business platforms, i.e. upstream petrochemical and coal chemical platform, MDI and derivative PU platform, downstream energy conservation construction material platform and straw platform, as well as capital platform to provide financial support to the group.

Jingtian & Gongcheng is the PRC legal counsel of the lender, providing comprehensive legal services to the client and acts as the main coordinator, including drafting loan agreement and guarantee agreement, issuing legal opinion, conducting legal due diligence, coordinating with Hungarian legal counsel, reviewing loan terms and participating in project meetings.