 2009-12-24 |
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The syndicated loan facility will be used by YC (the company) to support the expansion of its BOPP film production lines and facilities in the Changbin Industrial Zone, as well as to purchase machinery and equipment and to bolster mid-term operational working capital. The total amount raised for the 5-year syndicated loan was NT$1 billion, with the Land Bank serving as the lead bank. Other participating banks included E.SUN Bank, Huanan Bank, Mega Bank, Yuanta Bank, Chang Hwa Bank, Taiwan Bank, and the Agricultural Bank, which collectively oversubscribed the loan to NT$1.35 billion, achieving a subscription ratio of 135%. The final amount settled at NT$1.1 billion, reflecting the financial community's recognition and affirmation of YC's long-term pragmatic operations.
Established in 1978, YC’s primary business activities include the research and design, manufacturing, processing, and trading of various packaging materials such as films, resins, and tapes, as well as contracting construction firms to build and sell buildings. The company has expanded its operations into a multinational enterprise group involved in manufacturing, services, and construction. YC Group was founded by current Chairman Lee Chih-Hsien and has grown from its early struggles to become the largest tape manufacturer in the country and the only fully vertically integrated packaging materials company. The group aims to challenge NT$20 billion in revenue in 2010, positioning itself as the largest tape company in Asia and among the top three globally.
In addition to its core business development, YC’s investment in Wang Chou Construction Co., Ltd. has resulted in the acquisition of prime land in Taipei’s Neihu Phase 5 and the Xinzhuang sub-center in New Taipei City. With the recovery of the real estate market, it is anticipated that substantial non-operating income will benefit the group next year.
The Land Bank is committed to supporting major domestic enterprises to enhance their competitiveness and expand the bank's corporate finance business. It actively seeks credit, syndicated loans, and construction financing for medium and large domestic and foreign enterprises. As of the previous fiscal year, the Land Bank ranked third among domestic banks in total assets, loans, and deposits. Despite the financial crisis, it achieved pre-tax earnings of over NT$7.6 billion, with an after-tax earnings per share (EPS) of NT$3.02, making it one of the best-performing financial institutions. The bank operates with a sound financial structure and strong profitability, showing steady growth across all business operations. As of November 2009, the non-performing loan ratio was 0.86%, and the loan coverage ratio was 127.53%. In addition to traditional deposit and loan businesses, the bank has been actively expanding into international financial services, trust and urban renewal, real estate-related businesses, corporate finance, and wealth management services, aiming to broaden its comprehensive service scope and increase earnings, enhancing operational performance. The bank continues to assist enterprises in obtaining operational funding and promoting a full range of real estate services in line with government initiatives to stimulate the economy.
Source: Taiwan Land Bank Co., Ltd. |
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