THE CROSS-HARBOUR TUNNEL CO., LTD.
GENERAL MANAGERS
: WHEELOCK MARDEN & SECRETARIES
& Co., LTD.
12TH FLOOR, UNION HOUSE, HONG KONG CABLE ADDRESS: SEATUNNEL TEL. 221111
TLX. HKG 312
102
Private and Confidential
The British Trade Commissioner,
707, Shell House,
HONG KONG,
:
29th March, 1969.
L
限。
A
香港隧道有限公司
Dear Sir,
With reference to previous meetings and discussions on the subject of a loan for the Hongkong Cross-Harbour Tunnel, we are pleased to be able to advise you that this Company has now been authorized by its present and future shareholders to accept the following terms and conditions:-
Loan Amount:
75% of the contract value. Pounds Sterling.
Loan to be in
Payment: (a)
(b)
Interest Rate:
(c)
The Company will pay 10% of the overall contract price in Sterling on signature of the contract.
The Company will pay 15% of the overall value of each monthly Engineers' Certificate in local currency at the prevailing rate of exchange between Hongkong Dollars and Sterling within 21 days of the end of the month to which the certificate relates.
A loan for the balance of 75% of each monthly Engineers' Certificate will be arranged with Lloyds. Bank Limited, London, and secured by Sterling Promissory Notes.
52% per annum. The Company will also pay to Lloyds Bank Limited banking charges and commission as follows:-
(1) Commitment commission payable on signature of the Financial Agreement 1% of the loan facility.
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