Taiwan Cement loan

Taiwan Cement loan
Published: 06 April 2009

Taiwan Cement Corp, the island’s biggest maker of the building material, plans to borrow as much as NT$15bn (US$453m) to refinance maturing debt.

“Interest rates are much lower now, so we are just refinancing for long-term purpose,” Huang Chien-chiang, a senior vice president at the Taipei-based company, said in a phone interview today.

Mega International Commercial Bank is leading a group of banks that may provide the money as soon as next month, said Chen Chia-hsiung, a loan officer at the Taipei-based lender. The other banks include Bank of Taiwan, Chinatrust Commercial Bank, Sinopac Bank, Land Bank of Taiwan, E-Sun Commercial Bank, Mizuho Corporate Bank and Taiwan Cooperative Bank, he said.