Sat, Oct 15, 2011 - Page 12 News List

Evergreen takes local syndicated loan

By Amy Su  /  Staff Reporter

The Evergreen Group (長榮集團) yesterday announced that it has signed a US$824 million syndicated loan agreement with nine domestic banks to finance its shipbuilding orders with CSBC Corp, Taiwan (CSBC, 台灣國際造船).

The syndicated loan was led by Bank of Taiwan (台灣銀行), Land Bank of Taiwan (土地銀行), Taiwan Cooperative Bank (合作金庫銀行), Taipei Fubon Commercial Bank Co (台北富邦銀行) and E.Sun Commercial Bank (玉山銀行), with another four financial institutions also participating, a Bank of Taiwan statement said.

In May, the Evergreen Group placed an order with CSBC to build 10 container vessels for US$1.03 billion, with delivery set to start in the autumn of 2013 or earlier.

Three of the 10 vessels will be built for Evergreen Marine Corp (長榮海運), the nation’s largest container shipping firm in terms of fleet scale. Four vessels will be built for Evergreen Marine (UK) Ltd and the remaining three for Evergreen Marine (Singapore) Ltd, according to the group.

The shipbuilding plan is set to start in the second half of next year, the statement said.

Separately, EVA Airways Corp (EVA, 長榮航空), the nation’s second-biggest airline and a subsidiary of the Evergreen Group, yesterday said its board of directors had agreed to sell two MD-11 freighters for fleet replacement, without saying for how much the aircraft would be sold, according to a stock exchange filing.

This story has been viewed 2497 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top