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ASIA ALUMINUM HOLDINGS LIMITED
Signs US$75 Million Term Loan Facility
Consolidates Financial Strength to Further Lead in Aluminum Production
HSBC and BEA acted as Coordinating Arrangers and joint book-runners for the Facility, with CITIC Ka Wah Bank Limited & CITIC Industrial Bank Guangzhou Branch acting as Co-Arranger. Other banks in the syndicate include Oversea-Chinese Banking Corporation Limited, Bank of China Macau Branch, The Korea Development Bank Shanghai Branch, Luso International Banking Limited, Macau, Bangkok Bank Public Company Limited, Hong Kong Branch, HSH Nordbank AG, Hong Kong Branch, KBC Bank N.V., Shenzhen Branch, Tai Fung Bank Limited and Wing Hang Bank, Limited. The Facility, which was originally targeted at raising US$60 million, achieved overwhelming response from the banking community and was up-sized to US$75 million at general syndication stage. Proceeds from the Facility will be used to refinance existing term loan facility of US$40 million and to fund the Group's general working capital.
"We are much encouraged by the strong response of banks in the syndication, which indicates the banking community's full confidence in our sustained business success and growth potential," said Mr Kwong Wui Chun, Chairman, Asia Aluminum Holdings Limited.
Asia Aluminum enjoys a dominant sector position in Asia. Its demand-driven capacity expansion plan has gained much momentum in recent years leading to a current aggregate capacity of 140,000 tonnes in five plants. Mr Kwong pledged continuous efforts to optimize production synergies among the Group's five facilities to pursue yield enhancement potential. The Group's longer-term business plan envisages continual expansion of its production capability to meet with rapidly growing demands in China and overseas markets.
About Asia Aluminum Issued by : Through :
Hong Kong, July 9, 2003 - Asia's largest aluminum extruder Asia Aluminum Holdings Limited (SEHK: 930) today signed a 3-year syndicated term loan facility of US$75 million (the "Facility") at a ceremony officiated by Group Chairman Mr Kwong Wui Chun, Mrs Margaret Leung, Head of Commercial Banking of The Hongkong and Shanghai Banking Corporation Limited ("HSBC"), and Mr Adrian Li, General Manager & Head of Corporate Banking Division of Bank of East Asia ("BEA").
Asia Aluminum Holdings Limited (SEHK: 930) is the largest aluminum extruder in Asia, operating five extrusion plants in Nanhai District, Guangdong Province, PRC with a total annual production capacity of 140,000 tonnes. The Group is in equity alliance with Indalex, the second largest aluminum extruder in North America. It was named one of the "World's Best 200 Small Companies for 2002" by Forbes Global.
Asia Aluminum Holdings Limited
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