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AUO Secures NTD 42 Billion Loan

AU Optornics (AUO) has secured a syndicated loan of NTD 42 billion (USD 1.374 billion) from a 25-member banking consortium led by Bank of Taiwan. The size of the syndicated loan was expanded to NTD 42 billion from the NTD 35 billion originally planned due to over subscription from the participating banks, according to sources at AUO. The banks had pledged to offer loans of up to NTD 111.7 billion, or 319 percent of the planned financing project. AUO will use the proceeds to repay previous bank loans, the company said. – Digi Times

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