AUO wants to refinance up to $1 billion

According to banking sources, a bank meeting on AUO's refinancing of up to 30 billion Taiwan dollars ($1 billion) was held recently. More than 10 banks participated in the meeting and were invited to take the lead in this financing case. The financing period is expected to be five years.

It is reported that the loan structure is expected to be similar to the company's $17.3 billion 4.5-year instalment loan signed in January.

According to sources, the proceeds from the financing will be refinanced as a number of current loan cases, and the principal of these loans will expire this year.

The loan case signed in January was led by the Bank of Taiwan. The initial interest rate is 90-day base market commercial paper interest rate plus about 73-75 basis points, depending on the borrower's net profit.

The loan in January was refinanced as the following loan cases, including: the 553 billion Taiwan dollar loan signed by AUO in September 2006, the 58 billion Taiwan dollar loan contract signed in October 2008, and the contract signed in July 2009. A $27 billion five-year loan case; in addition to the $27 billion loan case signed by Guanghui Electronics in June 2006, Guanghui Electronics was incorporated into AU Optronics in April 2006.

AUO said in June that the consolidated revenue in May was NT$38.3 billion, up 3.5% from the previous month and 22% from the same period last year.

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