Taipei, Feb. 9, 2010 (CENS)--Mega International Commercial Bank, a leading government-linked bank in Taiwan, and Bank of China (BOC), a state-run bank in China, recently decided to jointly extend an international syndicated loan of US$31 million to New York businesses through their overseas branches in the Big Apple.
Asking the BOC to co-underwrite the loan enables Mega to hedge its risk.

The loan is the first of its kind between a Taiwanese and Chinese bank. And senior executive at Mega said that in the second half of last year Mega`s New York branch found an opportunity to extend such loan valued at US$31 million to ethnic Chinese-operated Wu Towers and LLC in New York.

Mega has reportedly been partnering with BOC to tap the financial market in China and elsewhere, with the two banks agreeing to offer international syndicated loans and renminbi (RMB)-based lending, as well as setting up a platform to offer financing exclusively to Taiwanese enterprises in China.

Mega also plans to work with other leading banks in China, including China Construction Bank, Bank of Communications, Agricultural Bank of China and Industrial and Commercial Bank of China.

(by Judy Li)