The loan is secured by a mortgage over Shanghai plant 1 and Shanghai plant 2, owned by NRE and a corporate guarantee from the company. Each of loan 2 and 3 are additionally secured by a pledge over two utility patents owned by NVC.
Nanofilm Technologies International has obtained an additional three year term loan of RMB50 million ($9.21 million) from the Industrial Commercial Bank of China to fund working capital purposes of its wholly-owned subsidiary.
The RMB50 million, known as loan 3, will be utilised on Nanofilm Renewable Energy Technology (Shanghai) and Nanofilm Vacuum Coating (Shanghai), known as NRE and NVC.
