State-run Hua Nan Commercial Bank (華南銀行) yesterday inked a deal to grant local notebook maker Inventec Corp (英業達) a syndicated loan of US$500 million to bolster its operations.
Hua Nan Bank chairman Derek Chang (張雲鵬) signed the pact with Inventec chairman Tom Cho (卓桐華), the bank said.
The banking arm of Hua Nan Financial Holding Co (華南金控) is aiming to deepen its share of the syndicated loan market after it ranked third among local lenders in syndicated loan value in the first half of this year.
Photo courtesy of Hua Nan Commercial Bank
The agreement was in line with Hua Nan Bank’s effort to support local companies and advance the government’s policy that state-run banks provide NT$1 trillion (US$34.54 billion) of loans to companies in six strategic industries to help them link up with the world, transform and upgrade, Chang said.
As of Friday last week, the bank had approved NT$42.5 billion of corporate loans to support companies returning from China and stimulus programs, it said.
Inventec mainly manufactures and markets computers and electronic products.
To maintain its competitive advantage, the company also invests in artificial intelligence, 5G, Internet of Things and other advanced technology applications, Hua Nan Bank said.
The syndicated loan was joined by 12 other lenders, including First Commercial Bank (第一銀行), Taiwan Cooperative Bank (合作金庫), Mega International Commercial Bank (兆豐銀行), E.Sun Commercial Bank (玉山銀行), Land Bank of Taiwan (土地銀行) and Chang Hwa Commercial Bank (彰化銀行).
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