Taiwan Cooperative Executive: Primus Seeking Around NT$24 Billion Loan
October 12 2009 - 9:30PM
Dow Jones News
Primus Financial Holdings Ltd. is seeking a syndicated loan of
around NT$24 billion to finance its acquisition of American
International Group Inc.'s (AIG) life insurance unit in Taiwan,
John Chou, a vice president of Taiwan Cooperative Bank (5854.TW),
one of the lead banks for the loan, said Tuesday.
First Financial Holding Co.'s (2892.TW) First Commercial Bank
Co. is the other lead manager of the loan, Chou told Dow Jones
Newswires. Primus and the banks haven't finalized the loan deal, he
added.
Hong Kong-based Primus and China Strategic Holdings Ltd.
(0235.HK) jointly won the bid to acquire AIG's 97.5%-owned Nan Shan
Life Insurance Co. for US$2.15 billion, two people familiar with
the matter told Dow Jones Newswires.
-By Perris Lee Choon Siong, Dow Jones Newswires;
+8862-2502-2557; perris.lee@dowjones.com
(Aries Poon in Hong Kong contributed to this article.)