Standard Chartered leads syndicate on Taiwan Cement loan

Standard Chartered leads syndicate on Taiwan Cement loan
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.
 
Published under Cement News