On July 30, COFCO Group President Yu Xubo went to Singapore to attend Noble Agri’s bank financial road show for extending US$ 1.53 billion revolving credit facility (RCF).
Over 30 cooperating banks attended the road show. Yu Xubo introduced the basic condition of COFCO Group, the development positioning of Noble Agri, and consolidation of CNN’s overseas businesses and answered questions raised by the banks on the spot. He expressed hope that cooperating banks should play a greater role in COFCO’s internationalization strategy.
After the road show, Yu Xubo respectively met major heads of Singapore-based branches of four biggest Chinese banks (Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China and China Construction Bank) as well as four foreign banks (Societe Generale, Development Bank of Singapore, Standard Chartered Bank and Santander Bank), reviewed the current cooperation and held in-depth discussion over Noble Agri’s extended RCF and bilateral credit limit under establishment. Several cooperating banks expressed full support to Noble Agri’s extended RCF and their willingness to further cooperation with Noble Agri in various business fields.