L&T City plans to issue asset-backed debt financing instruments not exceeding 1.5 billion

L&T City announced that in order to broaden financing channels, the company plans to register and issue asset-backed debt financing instruments in the interbank market trading association, with an issuance amount not exceeding 1.5 billion yuan. The issuer will be the company, which will use part of its market properties as collateral assets. The issuance method will be subject to approval or filing as per regulations, and can be conducted in one go or in installments, publicly or privately, with a maximum term of no more than 3 + 2 years. The funds will be used for debt repayment, replenishing working capital, etc. On October 9, the company's board of directors and supervisory board have reviewed and approved the relevant proposals, which still require approval from the shareholders' meeting. In addition, it is proposed to authorize the chairman or his authorized personnel to handle the issuance matters, with the authorization valid until the issuance is completed