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JF China Region Fund, Inc Enters into Credit Facility.

BOSTON -- The Board of the JF China Region Fund, Inc (NYSE: JFC; the "Fund") announces that, with effect from Monday February 27, 2012, the Fund entered into a financing arrangement with Scotiabank Europe plc (the 'Lender'). Under this arrangement, the Lender provides a secured, committed Credit Facility (the 'Facility') in the aggregate amount of $17.5 million to the Fund. Interest on borrowings, if any, will be payable at 1.20% plus the London Interbank Offered Rate ('LIBOR'). Interest on undrawn borrowings will be payable at 0.25% if the undrawn borrowings are less than 50% of the committed amount and 0.35% if the undrawn borrowings are greater than or equal to 50% of the committed amount.

This financing arrangement gives the Investment Advisor the flexibility to tactically manage borrowed monies at its discretion under the close supervision of the Board. The Investment Advisor has an established record of successfully managing actively leveraged portfolios and the Board will monitor closely the investment results it delivers. As previously stated, the Investment Advisor has agreed to waive any management fee on any cash held when borrowings are drawn under the Facility. As at today, the Fund had not borrowed any funds from the Facility.

The Facility is in effect until at least February 25, 2013, with the option to extend the Facility, under amended terms, by a further 364 day period.

The Fund is a non-diversified, closed-end management investment company whose shares are traded on the New York Stock Exchange. The Fund trades under the symbol "JFC." For more information please refer to the Fund's website: www.jfchinaregion.com

Certain of the statements contained in this press release are forward-looking and reflect the Fund's expectations regarding the Fund's future investments, turnover, regulatory approvals, capital raising, performance, investment strategy and business based on information currently available to the Fund. Forward-looking statements are provided to present information about the Fund's current expectations and plans relating to the future and readers are cautioned that these types of statements may not be appropriate for other purposes. These statements use forward-looking words, such as "expect," "could," "may," "likely," "undertake," "will," "believe" or other similar words.

The Fund seeks to achieve long-term capital appreciation through investments primarily in equity securities of companies with substantial assets in, or revenues derived from, the People's Republic of China, Hong Kong, Taiwan and Macau -collectively, the China Region.

J.P. Morgan Fund Services, in Boston, MA is the Fund's accounting and administrative agent.
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Publication:Business Wire
Geographic Code:1U1MA
Date:Mar 1, 2012
Words:486
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