Gintech Energy secures TWD4.2 billion syndicated loan from First Bank and 12 others

Gintech Energy Corporation, a global firm in the photovoltaic (PV) industry, has entered into a syndicated loan agreement for a total of TWD4.2 billion (US$125 million) to support its existing debt repayments and raw material procurement.

The lenders consist of 13 domestic banks led by First Bank and co-led by Taiwan Cooperative Bank. The 3-year syndicated loan facility is denominated in Taiwan dollars which can be extended for another 2 years.

The loan will be used to repay the existing debts and to finance the working capital. This loan was 17% oversubscribed, demonstrating the strong support from the financial institutions in Taiwan.

The other participants in this deal include the Land Bank of Taiwan, Chang Hwa Bank, the Shanghai Commercial & Savings Bank, Mega International Commercial Bank, En Tie Bank, Hua Nan Bank, Taichung Commercial Bank, COTA Commercial Bank, Taishin International Bank, CTBC Bank, and Bank of Taiwan.