Nanjing Iron & Steel backs subsidiary's $6.4m loan

Nanjing Iron & Steel Co., Ltd. announced it will guarantee a $6,400,000 external loan for its controlled subsidiary, PT. KinRui New Energy Technologies Indonesia. This guarantee is a full joint and several liability.

The guarantee is provided to the China Development Bank Jiangsu Branch for KinRui New Energy's credit facility. The main debt period is from December 15, 2025, to December 14, 2028, with the guarantee period lasting three years from the expiry of the main contract's performance period. This transaction does not involve any counter-guarantee.

Following this guarantee, Nanjing Iron & Steel's newly added guarantee quota for KinRui New Energy in 2025 will be 174,544,640 yuan, with a remaining available quota of 128,895,360 yuan. As of the announcement date, the total external guarantees by Nanjing Iron & Steel and its controlled subsidiaries amount to 8.192 bn yuan. No overdue guarantees were reported.