AsiaPhos Limited announced that SPD has renewed its existing banking facility for RMB 5.2 million and RMB 4.8 million which was granted on 25 January 2019 to Sichuan Mianzhu Norwest Phosphate Chemical Company Limited and Deyang Fengtai Mining Company Limited respectively, for a term of one (1) year commencing from 13 January 2020. The New Banking Facility has an interest rate based on the loan prime rate (LPR) established by the National Interbank Funding Center plus basis points (BPS), i.e. currently the interest payable on the new banking facility would be 6.525% per annum i.e. a fixed interest rate throughout the facility period. The New Banking Facility will be secured by land use rights pertaining to a site of approximately 89,126.41m2 in Gongxing Industrial Zone in Sichuan province as similar to the Existing Banking Facility.