Solar Applied Materials Technology Corp (光洋科) yesterday secured a NT$3 billion (US$92.7 million) three-year syndicated loan from a 12-member bank consortium led by Chang Hwa Bank (彰化銀行).
The loan will be used mainly to fund Solar Applied Material’s operations and expansion, although part of it will be reserved to repay former loans, Chang Hwa said in a press statement.
Chang Hwa said the banks were bullish about the company’s prospects and had oversubscribed the loan request by 190 percent to NT$5.7 billion, although the company insisted on taking up only NT$3 billion.
The outlook for Solar Applied Materials is positive in view of the recovery in the global semiconductor industry, a pick-up in demand for flat panels and rising prices of precious metals, Chang Hwa said.
Solar Applied Materials, founded in 1978, is the largest optical data storage thin-film manufacturer worldwide.
As the world’s sixth-largest player in precious metals and rare materials refining, special forming and processing, Solar Applied Materials offers key materials and an integrated service model to customers for application in the optoelectronics, petrochemicals and consumer electronics industries.
Bank of Taiwan (台灣銀行), Land Bank of Taiwan (土銀) and Taipei Fubon Bank (台北富邦銀行) are among the syndicate of 12 banks.