JES International Holdings Limited has entered into a letter of intent (LOI) with a US based private investment firm for a credit facility of up to a maximum aggregate of US$20 million with the option of the company to request an additional facility of up to a maximum aggregate of US$20 million.
The tenure of each Loan shall be for a period of 3 years commencing from the date of each disbursement.
The Parties will use their best endeavours to negotiate and enter into the Definitive Loan Agreement within two weeks from the date of the LOI and the company will continue to update Shareholders on the Facility and upon the signing of the Definitive Loan Agreement.
[mappress] Press Release, August 5, 2013