chailease finance (b.v.i), the overseas subsidiary of the taiwanese leasing giant chailease holding, was commissioned by the bank of taiwan to raise us$100 million for a syndicated loan deal in order to repay existing company liabilities and fulfill the need for operating turnover. the signing process of the syndicated loan agreement took place on august 18, 2011, with chairman fong-long chen and the bank of taiwan’s president ming-daw chang presiding over the signing ceremony.
the bank of taiwan and japan’s mizuho bank are in charge of planning and have invited first bank and the australia and new zealand banking group (anz) to join them in organizing the syndicated loan. the bank of taiwan is also acting as the managing agent and in total, there are ten participating banks. the loan was oversubscribed by up to 35%, causing the commitment amount to reach up to us$135 million, and the project closed at us$100 million, showing the confidence that other banking groups have in chailease finance (b.v.i.).
chailease finance (b.v.i.) primarily deals with installment sales, overseas financing and providing financial consulting services. as a main financing unit of the corporation, the company’s clients are mainly medium or large taiwanese firms belonging to overseas subsidiaries. chailease finance (b.v.i.) has built up a solid foundation after many years in the industry and a tight-knit service network both domestically and abroad, in addition to being a subsidiary of chailease finance co., which is a leading financial company and an expert in the fields of leasing, installments sales, and project financing services. as a result, chailease finance (b.v.i) has consistently operated at a profit over the past several years. in the second quarter of this year (2011), the company earned revenue of us$7.15 million, a significant 90% increase from 2010. the parent company, chailease finance co. earned revenue of 4.3 billion ntd, a 30% increase from 2010. in the future, chailease finance (b.v.i.) aims to combine current business with domestic operations, in order to better provide clients with an expansive range of choices and services, from capital leases, conditional sales, and triangular trade to direct financing.