RAC Electric Vehicles Inc (華德動能科技) has secured a NT$1.5 billion (US$50.2 million) syndicated loan to fund its capacity expansion after receiving significant orders from customers, the electric bus manufacturer said yesterday.
Hua Nan Commercial Bank (華南銀行) acted as the lead arranger of the syndicated loan, with 15 other banks participating, RAC said in a statement.
The lenders have oversubscribed to the loan by more than 100 percent, it said.
RAC has won bids to supply 169 new electric buses to the nation’s major bus operators, including Capital Bus Co (首都客運), Danan Bus Co (大南客運) and Geya Bus Transport Co (巨業交通), through a