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Yuexiu REIT sells part of its Guangzhou tower stake to reduce debt and improve financial health.
Yuexiu Real Estate Investment Trust (Yuexiu REIT) plans to sell a 50% stake in the Yuexiu Financial Tower in Guangzhou for about RMB3.433 billion, reducing their overall interest to 49.495%.
The proceeds, along with a new RMB3.0 billion bank loan, will be used to pay off debts, lowering their gearing ratio from 48.1% to 41.2% and reducing interest expenses.
This move aims to improve Yuexiu REIT's financial health and competitiveness.
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Yuexiu REIT vende parte de su participación en la torre de Guangzhou para reducir la deuda y mejorar la salud financiera.