Standard Chartered leads syndicate on Taiwan Cement loan

Standard Chartered leads syndicate on Taiwan Cement loan
Published: 26 February 2010

Standard Chartered Bank (Taiwan) Ltd. said Thursday it led 15 other banks on a five-year US$500m syndicated loan signed Thursday with TCC International Ltd., a wholly owned unit of Taiwan Cement Corp.
 
The Taiwan Cement group will use the funds to buy mainland China cement assets from a unit of London-listed Prosperity Minerals Holdings Ltd for HK$3.8bn (US$489.5 million). The purchase of the assets, announced in December, will significantly boost the Taiwan cement maker’s production capacity in southern China.
 
TCC International Ltd. owns 55.5% of TCC International Holdings Ltd. (1136.HK), the Chinese cement-making arm of Taiwan Cement.