In all sorts of desperation, Sunac and Sun Hongbin can only continue to act as the music Panxian.
Yesterday, Sunac China released a notice that Tianjin Jiarui, a controlled company under the contractual arrangement, has conditionally agreed to lend RMB500 million to Lesotho New for the general working capital of Lesotho, and has conditionally agreed to lend to LeTV RMB1.29 billion for the general working capital of LeTV; and the wholly-owned subsidiary, Sunac Real Estate, has conditionally agreed to provide a total guarantee of RMB3 billion for the existing debt and new debts of LeTV.
It is reported that, as one of the preconditions for the first loan, LeTV will pledge its 100% equity of LeTV Investment to Tianjin Jia Rui for a guaranteed amount of RMB500 million. LeTV will hold the majority of its holdings in Chongqing Leslie Small 100% equity loan, Huoerguosi LeTV Centennial 100% stake, music and sports 6.47% stake pledged to Tianjin Jia Rui, the guarantee amount of 200 million yuan.
Pursuant to the Second Loan Agreement, Tianjin Jiarui is conditionally able to provide a loan of RMB1.29 billion to Les Regent for the general working capital of Lesotho.
The precondition is that the two parties sign the second equity pledge agreement. LeTV will pledge 13.5% of the equity of LeTV to 13.51416% equity held by LeTV and 50% equity of LeTV as pledge to Tianjin Jia Rui.
In addition, Sunac Real Estate, a wholly-owned subsidiary of Sunac China, signed a commission guarantee agreement with LeTV for the provision of a guarantee of no more than RMB3 billion for the existing debt and new debt of LeTV, which Suntec China said: The Company continued to be optimistic about the prospects for the development of large-screen operation and content sectors in the long run. After a period of adjustment and optimization, the overall operating conditions of LeTV and LeTV have recently achieved some recovery.
As of the announcement day, Tianjin Jia Rui holds 8.56% stake in LeTV, Music as the new 33.4959% stake in. LeTV, LeTV Zhirui Sunac China joint venture company, earlier this year, Rongchuang more than 160 billion stake in LeTV, with LeTV Valuation fold again and then fold, this investment has been depleted, for Sun Hongbin, perhaps only a backwater fight.