TAIWAN: Shoemaker Pou Chen Inks NT$3.5bn Loans
Pou Chen Corp, the world's largest maker of sports shoes, has signed a contract for NT$3.5bn worth of syndicated loans with a banking group led by Citibank. The loans will be used to retire the shoemaker's previous loans and to improve its financial structure, company officials said. The financing package includes a NT$2.8bn portion of direct loans from a group of 15 banking institutions and a NT$700m note issuance facility under which Pou Chen will be allowed to issue commercial papers to raise funds with guarantees from banks.
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