TPE:2540

JSL Construction Board Approves NT$16.8 Billion Syndicated Loan Facility

JSL Construction & Development (TPE:2540) board approved a syndicated loan facility totaling NT$16.8 billion, according to a Thursday Taiwan Exchange filing.Shares slid nearly 2% in Friday's afternoon trade.The five-year syndicated loan will be arranged by a banking group that includes Taipei Fubon Commercial Bank, Mega International Commercial Bank, and Chang Hwa Commercial Bank (TPE:2801).Under the agreement, NT$8.4 billion of the facility will be allocated to JSL Construction, while the remaining NT$8.4 billion will go to its unit Yiquan Development.The company said the proceeds will be used to refinance part of its 2023 syndicated loan and fund the Hongdao Hsinchu Debao Phase II development project and related infrastructure works.