Taiwan: Evergreen Announces Signing of USD 824 Million Bank Loans

Evergreen Marine announced on Friday the signing of a $824m syndicated loan agreement with nine domestic banks to fund its shipbuilding plans. The loans, repayable over 10 years, will cover an order placed in May with state-owned shipyard CSBC Corp to build 10 containerships of 8,000 teu for $1.03bn.

The syndicated loan was arranged by Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Taipei Fubon Commercial Bank and E.Sun Commercial Bank, plus four financial institutions. The containerships are scheduled to be delivered from CSBC’s Kaohsiung yard between 2013 to 2015.

(Seatrade-Asia)