Industry | 2010.08.30
AutoChina International Closes on $53.9 Million in New Bank Facilities
SHIJIAZHUANG, China--(BUSINESS WIRE)--AutoChina International Limited (“AutoChina” or the “Company”) (NASDAQ: AUTC), China’s largest commercial vehicle sales, servicing, leasing, and support network, today announced that the Company closed on new bank loans with the Industrial and Commercial Bank of China Ltd. (“ICBC”) totaling RMB166 million (approximately $24.5 million). These loans each have ten month terms with an initial annual interest rate of 5.31%. The Company previously announced a simi
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