Yageo Secures NT$ 48.5 Billion Syndicated Loan2020/06/02
Yageo Corporation announced today that it has signed a NT$ 48.5 billion five-year syndicated loan agreement with a banking syndicate of twenty-two financial institutions. The syndicated loan was led by six banks including Bank of Taiwan, Mega International Commercial Bank, DBS Bank, First Commercial Bank, Hua Nan Commercial Bank, and Mizuho Bank, with Bank of Taiwan and Mega International Commercial Bank as management banks. The loan facility will primarily be used to meet Yageo’s future growth and expansion and the acquisition of US-based KEMET Corporation.
This syndicated loan received strong supports from banking syndicate and was closed near 60% oversubscribed, the largest in Taiwan's passive component industry history and the highest credit facility among Taiwanese enterprises in recent two years, indicating syndicated banks are optimistic about the synergies from the combination of Yageo and KEMET, as well as confident with Yageo’s long-term development and profitability, global strategies, and its industry outlook.
To meet market demands and prepare for the new technology era of 5G and automotive electronics, Yageo will continue to expand its global scale to ensure the company's long-term growth momentum, obtain advanced technologies to enhance its international competitiveness, establish sustainable operational strengths to create even higher value to its industry and shareholders.