Zai Lab secures RMB250M credit facility from China Merchants Bank for subsidiary working capital

Zai Lab Ltd

Parent company issued guarantee to China Merchants Bank (Shanghai) for loans up to RMB250M (~$34.4M) for wholly owned subsidiary Zai Lab Shanghai.
Credit facility is for one year; specific loan terms will be in separate transaction documents.
No working capital loans have been drawn under the facility as of the filing date.
Facility supports working capital needs in mainland China; includes customary covenants requiring prior bank consent for certain transactions.

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