NSP Secures NT$3.3 Billion Syndicated Loan

Neo Solar Power Corporation (3576 TT) (“NSP”, or “the Company”), announced that the company has secured an NT$3.3 billion syndicated loan led by Taiwan Cooperative Bank, Land Bank of Taiwan, First Bank and CTCB Bank. The signing ceremony has been held on 17th Sep, 2015 at 7th floor of Taiwan Cooperative Bank. The agreement was signed by Chairman of Taiwan Cooperative Bank, Tsan-Chang Liao and Chairman of NSP, Quincy Lin.

“The loan will be used to repay existing debt and as working capital of equipment & raw materials procurement. The total amount of the Syndicated Loan is NT$3.3 billion with 3 years term (which can be extended for 2 more years)” says Taiwan Cooperative Bank. No matter the high-efficiency & high-reliability of NSP product, cost reduction progress, or global market strategy, NSP all stands with outstanding performance, therefore with strong support and active participation from the banks. It also shows that Taiwan banking industry views solar industry with a promising future. The other participants in this syndicated loan are Chang Hwa Commercial Bank, Mega International Commercial Bank, The Shang Hai Commercial & Savings Bank and Taiwan Business Bank. Including the 4 co-leading banks, there are total 8 banks participated in this deal.

Quincy Lin, Chairman of NSP says “Solar energy is a renewable and everlasting energy. With the effort of the whole solar value chain for the past few years, solar energy has been more and more cost effective. The Grid-Parity has been reached in many countries worldwide and therefore no longer needs government’s support. The demand for solar energy is also increasing rapidly in many development & un-development countries. According to the data from market research agency iHs, global solar installations will be over 51GW in year 2015, and jump into 70GW in year 2018. The growth potential for solar energy is huge. NSP stands as leading position in the solar industry and possess excellent R&D and management team, it is believed that NSP will be able to set new high for revenue and profit with this proceeds in the coming years.