--- schema_version: "secwatch.filing_event.v1" accession: "0001628280-24-003902" form_type: "8-K" ticker: "ZLAB" cik: "0001704292" company_name: "Zai Lab Ltd" filed_at: "2024-02-08T23:59:59+00:00" generated_at: "2026-06-06T05:42:38.538205+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Zai Lab enters debt facilities with three Chinese banks for up to ~$174M ## Summary - BOC HK facility: $100M uncommitted, one-year term; $50M standby L/C issued; Zai Lab Shanghai draws RMB340M (~$47.8M) loan at ~2.95%. - SPD Bank guarantee for up to RMB300M (~$42M) over three years; no loans drawn yet. - Ningbo Bank max credit of RMB230.3M (~$32.4M); no drawdowns; Zai Lab Suzhou to pledge real property. - Proceeds used for working capital in China; company says it provides enhanced flexibility. ## SEC filing metadata - accession: 0001628280-24-003902 - form_type: 8-K - ticker: ZLAB - cik: 0001704292 - company_name: Zai Lab Ltd - filed_at: 2024-02-08T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/zlab-20240205.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001628280-24-003902 - JSON: https://secwatch.observer/filing/0001628280-24-003902.json - Plain text: https://secwatch.observer/filing/0001628280-24-003902.txt ## Key facts - Debt Financings Zai Lab Ltd incurred guarantee of up to RMB300 million (approximately $42 million) with Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch maturing three-year period. - Instrument: guarantee - Principal: up to RMB300 million (approximately $42 million) - Counterparty: Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch - Maturity: three-year period - Event: incurrence source text: the Company entered into a maximum-amount guarantee contract (the “Guarantee”) with the Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch (the “SPD Bank”) pursuant to which the Company will guarantee working capital loans of up to RMB300 million (approximately $42 million) from SPD Bank to Zai Lab Shanghai over a three-year period. evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Debt Financings Zai Lab Ltd incurred term loan of RMB340 million (approximately $47.8 million) with Bank of China Pudong Development Zone Branch at latest one-year loan prime rate published by the National Interbank Funding Cent maturing one year. - Instrument: term loan - Principal: RMB340 million (approximately $47.8 million) - Counterparty: Bank of China Pudong Development Zone Branch - Rate: latest one-year loan prime rate published by the National Interbank Funding Cent - Maturity: one year - Event: incurrence source text: Zai Lab Shanghai subsequently entered into a working capital loan contract (the “Working Capital Loan Agreement”) with the BOC Pudong Branch on February 7, 2024 for a loan of RMB340 million (approximately $47.8 million). evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Debt Financings Zai Lab Ltd incurred credit facility of $100 million with Bank of China (Hong Kong) Limited maturing one year. - Instrument: credit facility - Principal: $100 million - Counterparty: Bank of China (Hong Kong) Limited - Maturity: one year - Event: incurrence source text: the Company entered into an uncommitted facility letter (the “Facility Letter”) with the Bank of China (Hong Kong) Limited (the “BOC HK”) pursuant to which the BOC HK will provide standby letters of credit for loans of up to $100 million for a term of one year. evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Debt Financings Zai Lab Ltd incurred credit facility of up to RMB230.3 million (approximately $32.4 million), of which the Company is authorized to utilize up to RMB160 million with Bank of Ningbo Co., Ltd. Suzhou Sub-branch. - Instrument: credit facility - Principal: up to RMB230.3 million (approximately $32.4 million), of which the Company is authorized to utilize up to RMB160 million - Counterparty: Bank of Ningbo Co., Ltd. Suzhou Sub-branch - Event: incurrence source text: Zai Lab (Suzhou) Co., Ltd. (“Zai Lab Suzhou”), entered into a maximum credit contract (the “Maximum Credit Contract”) with Bank of Ningbo Co., Ltd. Suzhou Sub-branch (“Ningbo Bank”). The Ningbo Bank Agreements permit Zai Lab Suzhou to utilize, including through discounting or working capital loan agreements and subject to the terms and conditions in related master agreements, up to RMB230.3 million (approximately $32.4 million), of which the Company is authorized to utilize up to RMB160 million (approximately $22.5 million). evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Material Agreements Zai Lab Ltd entered into Guarantee with Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch valued at up to RMB300 million (approximately $42 million) (effective 2024-02-06). - Action: entry - Agreement: credit facility - Counterparty: Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch - Value: up to RMB300 million (approximately $42 million) - Effective: 2024-02-06 source text: On February 6, 2024, the Company entered into a maximum-amount guarantee contract (the “Guarantee”) with the Shanghai Pudong Development Bank Co., Ltd. Zhangjiang Hi-Tech Park Sub-branch (the “SPD Bank”) pursuant to which the Company will guarantee working capital loans of up to RMB300 million (approximately $42 million) from SPD Bank to Zai Lab Shanghai over a three-year period. evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Material Agreements Zai Lab Ltd entered into Maximum Credit Contract with Bank of Ningbo Co., Ltd. Suzhou Sub-branch valued at up to RMB230.3 million (approximately $32.4 million) (effective 2024-02-06). - Action: entry - Agreement: credit facility - Counterparty: Bank of Ningbo Co., Ltd. Suzhou Sub-branch - Value: up to RMB230.3 million (approximately $32.4 million) - Effective: 2024-02-06 source text: On February 6, 2024, our wholly-owned subsidiary, Zai Lab (Suzhou) Co., Ltd. (“Zai Lab Suzhou”), entered into a maximum credit contract (the “Maximum Credit Contract”) with Bank of Ningbo Co., Ltd. Suzhou Sub-branch (“Ningbo Bank”). evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Material Agreements Zai Lab Ltd entered into Working Capital Loan Agreement with Bank of China Pudong Development Zone Branch valued at RMB340 million (approximately $47.8 million) (effective 2024-02-07). - Action: entry - Agreement: credit facility - Counterparty: Bank of China Pudong Development Zone Branch - Value: RMB340 million (approximately $47.8 million) - Effective: 2024-02-07 source text: Zai Lab Shanghai subsequently entered into a working capital loan contract (the “Working Capital Loan Agreement”) with the BOC Pudong Branch on February 7, 2024 for a loan of RMB340 million (approximately $47.8 million). evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm - Material Agreements Zai Lab Ltd entered into Facility Letter with Bank of China (Hong Kong) Limited valued at $100 million (effective 2024-02-05). - Action: entry - Agreement: credit facility - Counterparty: Bank of China (Hong Kong) Limited - Value: $100 million - Effective: 2024-02-05 source text: On February 5, 2024, the Company entered into an uncommitted facility letter (the “Facility Letter”) with the Bank of China (Hong Kong) Limited (the “BOC HK”) pursuant to which the BOC HK will provide standby letters of credit for loans of up to $100 million for a term of one year. evidence_url: https://www.sec.gov/Archives/edgar/data/1704292/000162828024003902/0001628280-24-003902-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.