Orient Paper Announces RMB150M Financing Arrangement
Orient Paper, Inc. (NYSE MKT: ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in North China, today announces it has entered into a sale-leaseback financing arrangement (the “Financing Arrangement”) with China National Foreign Trade Financial & Leasing Co., Ltd (“CNFTFL”) on June 16, 2013, for a total financing proceeds in the amount of RMB150 million (approximately US$24 million).