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Yusco – ECA-backed financing

01 March 2008

Taiwan's uncovered steel gleams bright

MLA: Bayerische Hypo- und Vereinsbank, Hong Kong
Borrower: Yieh United Steel Corporation, Taiwan (Yusco)
Amount: e63 million, $35 million, e4.25 million
Tenor: ECA tranche A 3-year term loan,;
ECA tranche B 10-years; commercial tranche 10-years
ECA: OeKB, Euler Hermes

The investment banking emerging market (IBEM) team in Hong Kong from Bayerische Hypo-und Vereinsbank (Unicredit) had been nurturing a relationship with Yusco, Taiwan's largest stainless steel manufacturer, for more than two years when they eventually won the mandate to finance Yusco's second fully integrated steel plant beating strong international and local competition.

The Taiwanese firm had already established a successful plant through its subsidiary Lisco in Guangzhou in China and...

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