Equation Corp says it has granted a $675,000 temporary bridging loan to unit Centillion Environment & Recycling. The loan comes with 7% p.a. interest rate.

Centillion has previously announced that it is considering the disposal of its wholly-owned China subsidiary, Centillion Environment & Recycling (Wuxi) Co. However, the plan takes some time to materialise. In the meantime, Centillion requires certain funds for general working capital.

Centillion has given an undertaking that it will use the funds from the disposal of Centillion Environment & Recycling (Wuxi) Co. first towards repayment of the Equation Corp loan.