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Taiwan's syndicated loans hit 6-month high of NT$40b. in December.

Taipei, Dec. 28, 2012 (CENS) -- Approvals of several syndicated loans last week have driven up Taiwan's syndicates loans to NT$40 billion (US$1.33 billion) in December, a new high in six months, with the borrowers being mainly Taiwanese and Chinese enterprises, including YFY Group, Tonyi Industrial Corp., ACHEM Technology Corp., Far East Horizon, China Zhongwang Holdings Ltd., and New World China Land Ltd.

Among them YFY, Taiwan's largest paper & pulp manufacturer, obtained a loan of NT$10.5 billion (US$350 million) from a syndicate of 12 Taiwanese banks for lending rate of about 1.6%-1.65% per annum. Far East Horizon, a leading Chinese financial service company, originally intended to apply for a loan of US$120 million, then later raised to US$390 million at a much higher lending rate of Libor plus 280 basis points (1 basis point = 0.01%) or over 3%, which attracted many Taiwanese banks to be underwriters.

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style='font-family:"Times New Roman"' lang="EN-US"
xml:lang="EN-US">Syndicated Loans Approved in

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Taiwan

Last

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Applicants Loan Lending Leading
 value rate provider

YFY NT$10.5B 1.6%-1.65% Bank

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Far East US$ Libor+280 The

style='font- TCSC="0" Basis points Development
family:"Times NumberType="1" Bank of
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lang="EN-US" HasSpace="False" Singapore
xml:lang="EN- SourceValue="390"
US">Horizon
 UnitName="m"
 w:st="on">390M

lang="EN-US" US$ Libor+275 The
xml:lang="EN
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 NumberType="1" Bank of
lang="EN-US" Negative="False"
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Zhongwang
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Tonyi NT$3B About Mega

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 Commercial Bank

ACHEM NT$2.5B About Land
 1.8%
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 SourceValue="119"

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Source: the said banks
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Article Details
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Author:Li, Judy
Publication:The Taiwan Economic News
Geographic Code:9TAIW
Date:Dec 28, 2012
Words:354
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