Qisda Corp. Signs NT$8.64 Billion Syndicated Loan with Bank of Taiwan and Other Banks
On Aug. 28, 2019 the Qisda Corp. signed an agreement for a syndicated loan of NT$8.64 billion, with the Bank of Taiwan serving as lead bank. The signing ceremony, hosted by Qisda Chairman and President Peter Chen and BOT Chairman Joseph Jye-Cherng Lyu, was held at the Sherwood Hotel in Taipei.
The loan will be used to repay existing bank loans and augment the company’s working capital. Nineteen banks are participating in the loan, which was originally to be for NT$7.2 billion; the participating banks were so enthusiastic that they oversubscribed the loan by 256.9%, bringing the total offered to NT$18.5 billion, and the final amount was set at NT$8.64 billion. The lenders’ enthusiasm fully illustrates their firm recognition of Qisda’s commitment to technological innovation and the upgrading of its operational efficiency over the years.
The Qisda Corp. is a multi-faceted designer and contract manufacturer of high-tech electronic products for consumers, commerce, industry, and medical applications. It is a world leader in liquid-crystal display and projector manufacturing. Building on its extraordinary technological and patent base, it has continuously developed new niche products in recent years and has vigorously promoted strategic alliances, expanding into the fields of medical treatment and smart solutions. This has enabled the firm to respond appropriately to changes in industry and successfully transform its operations from capacity competition to value competition.
Through strategic leadership of its alliance group and its platform for sharing group resources, Qisda has gradually achieved synergies in recent years and achieved consolidated revenues of NT$155.78 billion in 2018, a record high. In the future the company will continue striving to optimize its existing operations, rapidly expand its medical business, and speed up the development of solutions and the deployment of key parts and components. Qisda will build on its current foundation of success and use its strong executive power to upgrade its operational efficiency and create long-term value for the company.
Contact: Wu Chia Hsiao, Manager, Department of Corporate Finance: (02) 2349-3331