Fri, Oct 19, 2018 - Page 12 News List

Lank Bank, Ting Sin sign NT$900m syndicated loan

By Crystal Hsu  /  Staff reporter

State-owned Land Bank of Taiwan (土地銀行) yesterday inked a syndicated loan agreement with aluminum alloy supplier Ting Sin Co (廷鑫興業) to fund its operations.

The five-year syndicated loan, valued at NT$900 million (US$29.1 million), is also intended to help pay down the Taichung-based firm’s debts, the lender said in a statement.

Yen Teh-hsin (顏德新), chairman of Ting Sin, which manufactures and supplies aluminum alloy billets worldwide, signed the agreement with Land Bank vice president Ho Ying-ming (何英明), according to the statement.

First Commercial Bank (第一銀行), Taiwan Cooperative Bank (合作金庫銀行) and the Agricultural Bank of Taiwan (農業金庫) also took part in the loan to show support for Ting Sin, which is seeking to expand its product line and boost its competitiveness, it said.

The syndicated loan also reflects Land Bank’s attempt to diversify its income sources, from a focus on mortgage operations to corporate lending and retail banking, it said.

Land Bank said it is increasing lending with local firms in the “five plus two” industries and engaged in expansion in Southeast Asia.

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