Formosa seeks $600m-$800m bridge loan
Formosa Plastics Group is speaking to banks about a bridge loan of between $600m and $800m to fund a steel project, according to a banker familiar with the deal. If the funding comes to the market, it will be the Taiwanese company’s fourth loan in less than two months.
Formosa is expected to send out a request for proposals to lenders in two weeks, and plans to use the loan proceeds to build a steel plant in Vienna, added the banker.
It was initially considering issuing a bond of the same amount, but scrapped its plans
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