According to reports, CHINA JINMAO has obtained a medium to long-term loan of 9.9 billion RMB secured by Jinmao Tower

According to reports from mainland media, China Jinmao signed a syndicated loan contract with seven state-owned banks led by China Construction Bank. China Jinmao used the 31st to 50th floors, the 88th floor, and the underground parking lot of the Jinmao Tower located in Pudong, Shanghai, as collateral to obtain a medium to long-term loan limit of no more than 9.9 billion yuan. The funds are mainly used to replace three green asset-backed project plans issued in 2023 and 2024.

Rough calculations show that if the new cost of 2.7% replaces the original green bonds with an interest rate of over 3.2%, Jinmao could save interest expenses of up to 64 million yuan per year; extending the timeline to 15 years could save nearly 1 billion yuan in total.

Data shows that the Jinmao Tower was completed on August 28, 1999, with a total of 88 floors and a height of 420.5 meters, making it the tallest building in mainland China at that time