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FINWIRES

Taiwan Mobile Unit OKs NT$11 billion New Loans to Taiwan Mobile

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Taiwan Fixed Network approved NT$11 billion in new loans to its parent Taiwan Mobile (TPE:3045), to fund the latter's investment projects.

Of the total, NT$5.5 billion will be available on a revolving basis, while the remaining NT$5.5 billion will be provided on a non-revolving basis, according to a Wednesday Taiwan Exchange filing.

The loans will carry interest based on the six-month TAIBOR plus 0.3%, with interest payable every 180 days, and will be repayable within one year.

The loans are unsecured and will be funded from Taiwan Fixed Network's excess cash, the filing said.

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