 2009-12-24 |
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(Reported by Ren Pei-Yun, Cnyes News, Taipei)
The Land Bank has successfully completed a NT$1.1 billion syndicated loan for YC (4306). The funds will be used by 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 bolster its 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 was settled at NT$1.1 billion.
Founded 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 established 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. |
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