President Securities (TPE:2855) has signed a syndicated loan agreement worth NT$17.1 billion with a consortium of banks, according to a Friday filing to the Taiwan stock exchange.
The company's shares were down over 2% in recent trade.
It has secured the loan from the Bank of Taiwan, Mega International Commercial Bank, Hua Nan Commercial Bank, and Chang Hwa Commercial Bank.
The financial services company plans to use funds raised to strengthen its medium-term working capital.