On Thursday August 18, 2016-10a.m, TSEC launched NTD1 billion dollars (US$32 million) contract signing ceremony for syndicated loan at TSEC Hsinchu plant.
It was hosted by Taiwan Cooperative Commercial Bank (Credit and Collateral Management Bank), Taiwan Business Bank (File Management Bank) as well as Chang Hwa Commercial Bank, Hua Nan Commercial Bank, First Commercial Bank, Land Bank of Taiwan, and Mega International Commercial Bank, etc. All these banks jointly conduct NTD1 billion dollars syndicated loan for TSEC CORPORATION. The signing ceremony was successfully performed on August 18. With the fund, TSEC could further purchase facilities for capacity expansion and cell efficiency upgraded.
In 2010, TSEC COPRORATION was established and dedicated to solar cell/module manufacturing and marketing. With solid R&D and management team, TSEC has reliable solar products as well as outstanding strategic marketing plan for operational performance, which allows TSEC to have competitively edge over the global solar market.
In June 2016, TSEC just achieved its first cash capital raise with amount of NTD 9 hundred million dollars (US$ 32million). Moreover, TSEC has a steady financial structure therefore banks are more than willing to participate in this syndicated loan, which boost up the entire fund raising process within a short period of time.
"TSEC plans to expand solar cell production capacity for reaching 1.45 GW by the end of 2016. Furthermore, it has invested huge amount of resource on the upgrade of equipments, in order to achieve higher conversion efficiency and other related technical improvements. In this way, TSEC will increase the quality of production at the same time lower the production cost for overall performance. TSEC believes with the syndicated loan, it would bring TSEC to the next chapter, reach better achievement and higher margin contribution in the future.