2016-11-25

visit : 510

2013/03/28

the syndication loan arranged by taishin bank and mega bank for heng ya electric was signed on the 26th. taishin bank president chung lung-yu said that this syndication loan was initially planned with a limit of $40 million and a tenor of 3 years, which can be extended up to 2 years upon maturity. due to overwhelming participation from scsb, chang hwa bank, hua nan bank, land bank of taiwan, and shin kong bank, the syndication loan concluded at an excess limit totaling us$43 million.

the signing ceremony was hosted by ta ya group chairman shen shang-hung and taishin bank president chung lung-yu, while heng ya electric president shen shanghui was also present at the ceremony. shen shanghong said that heng ya electric is a 100%-owned subsidiary of ta ya group founded in hong kong in august 1992. heng ya currently has a share capital of hkd 269 million, which is equivalent to ntd 1.035 billion. it was established mainly for the purpose of investing into cable manufacturers in china. it now has 3 production sites located in dongguan, kunshan and zhangzhou that deliver total magnet wire production capacity exceeding its parent company in taiwan. heng ya generates nearly hkd 1.5 billion in consolidated revenue, equivalent to ntd 5.8 billion.

shen shang-hung said that ta ya electric wire and cable has been able to maintain profitability in almost every year. it accumulated ntd 200 million of pre-tax profit in the first 3 quarters of 2012, and has the potential to generate more than $20 billion in group revenues with consistent contribution from the taiwan headquarters, china, and vietnam.

this syndication loan of heng ya electric is guaranteed by the parent company - ta ya electric wire and cable. the funds borrowed will be used to repay bank loans, support business growth, and reserved as general working capital. the loan provides the company with a stable source of funding and strengthens its financial structure. the loan had gathered significant interest and support from the banking sector due to its innovative structure and heng ya's strong future prospects.

shen shang-hung recognized taishin bank's innovation and service quality in this syndication loan, for it has made an extensive effort to address growth requirements and make financial planning in the most professional manner. chung lung-yu thanked the customer for recognizing the bank's efforts, and made promises to continually provide the best range of services in the future.