Taiwan's Rizhao Textile signs a 1.1 billion Taiwan dollar lending case

According to sources in the banking industry, Taiwan's Risheng Textile Company Co., Ltd. signed two items worth NT$1.1 billion on October 6.

** It is divided into Part A of the NT$800 million seven-year term**, Part B of the NT$300 million revolving credit limit.

Taiwan Land Bank also serves as the host bank, quota distribution bank, and agency bank, and it has loaned 300 million and 100 million Taiwan dollars in parts A and B, respectively. The Agricultural Bank of China is a manager and has loaned between 112 million and 42 million Taiwan dollars in Parts A and B, respectively.

Kaohsiung Bank and Taiwan’s Cooperative Bank of Treasury joined as participating banks, each of which under the A and B sections committed loans of 84 million and 33 million Taiwan dollars. Taiwan Bank, Changhua Commercial Bank, South China Commercial Bank, and Taichung Bank also joined as participating banks, with loans of 55 million and 23 million Taiwan dollars respectively.

The ** interest rates in Parts A and B are all 51 basis points over the one-year average deposit rates of the following six banks and will not be lower than 180 basis points. The six banks are Taiwan Land Bank, Taiwan Bank, Changhua Commercial Bank, First Commercial Bank, South China Commercial Bank and Taiwan Cooperative Bank.

The bank is invited to participate with three price codes:

For a loan of 300 million Taiwan dollars or more, you can obtain up to 20 basis points for the upfront payment;

With a loan of 200-300 million Taiwan dollars, you can obtain 10 basis points of the prepaid expenses;

For a loan of 100 million to 200 million Taiwan dollars, the prepaid commitment fee for obtaining 5 basis points is 10 basis points.

** Contains a grace period of two years. Part A is a quarterly repayment, which is paid back in 11 rounds: 3.5% for each of the first 10 repayments, and 65% for the last repayment.

Zhuang Longqian, Chairman of Rizhao Textiles, Xiao Meiling, General Manager, and Zhuang Shihong, Director of the Board are guarantors. This ** and obtained land and factory guarantees.

The financially binding clauses include: the current ratio shall not be less than 100%, the debt ratio shall not be more than 2 times, and the interest coverage ratio shall not be less than 2 times.

** Funds will be used for further work and working capital.

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