News & Analysis
ASE gains $365 million syndicated loan
Mark Lapedus
6/29/2009 11:53 AM EDT
The proceeds from the syndicated loan will be used to repay loans due before June 2010 and for working capital, according to ASE (Taipei, Taiwan), the world's largest IC packaging house.
The loan is led by Citibank, Taipei Fubon Commercial Bank, Bank of Taiwan, Calyon Corporate and Investment Bank and First Commercial Bank. Other syndicated loan participating banks include China Development Industrial Bank, Changhwa Commercial Bank, Chinatrust Commercial Bank, Taiwan Cooperative Bank, Cathay United Bank, Mega Commercial Bank, Yuanta Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank, Bank of Tokyo Mitsubishi, Shin Kong Commercial Bank and Shanghai Commercial & Savings Bank.
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nortons
2/20/2013 7:06 AM EST
The main goal of syndicated lending is to spread the risk of a borrower default across multiple lenders (such as banks) or institutional investors like pensions funds and hedge funds. Because syndicated loans tend to be much larger than standard bank loans, the risk of even one borrower defaulting could cripple a single lender. Syndicated loans are also used in the leveraged buyout community to fund large corporate takeovers with primarily debt funding.
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