Recently, Marangatu Holding S.A. and Panati Holding S.A., project companies of SPIC Brazil Energy Company ("SPIC Brazil"), entered into financing agreements with Deutsche Bank AG, Singapore Branch, in the amounts of RMB1.1 billion and RMB300 million respectively, and completed drawdowns thereunder. The fund raised will be used for the companies' operations and financing optimization.
Grandall Hangzhou and Grandall Hong Kong have been engaged as special legal counsel to SPIC Brazil and provided full-cycle legal services for this transaction with Partner SUN Tingjuan and Lawyers MA Yue and WANG Haoran from Grandall Hangzhou, and Partner Agnes WONG and ZHENG Linni from Grandall Hong Kong as key members serving the case.