ASIA SERMKIJ LEASING PUBLIC COMPANY LIMITED SIGNS USD120 MILLION SYNDICATED LOAN
Asia Sermkij Leasing Public Company Limited (ASK), the overseas subsidiary of the Taiwanese leasing giant Chailease Holding Company Limited (CHC), on 8 October 2021 successfully entered into a USD120 million syndicated loan agreement to fund its working capital for business expansion. The syndicated loan was substantially oversubscribed by three times, which is a record high figure within ASEAN members of CHC. The strong interest from banks is testament to the confidence in Chailease’s positive development. A group of 13 banks participated in the syndicated loan with Mizuho Bank acted as Mandated Lead Arranger, Bookrunner and Agent; Far Eastern International Bank acted as Mandated Lead Arranger and Bookrunner; Chang Hwa Commercial Bank, Mega Bank, First Commercial Bank, Hua Nan Commercial Bank, Taiwan Cooperate as Mandated Lead Arrangers; and Bank of Panhsin, The Export-Import Bank of the Republic of China, Sunny Bank and Taishin International Bank acted as Managers.
Established in 1984 and listed on The Stock Exchange of Thailand in 2005, ASK mainly operates hire purchase business for all types of automobiles, including new and used commercial and passenger vehicles. In recent years, ASK continues to increase market share of its core business which is new truck and used truck hire purchase, and at the same time, successfully launched high yield products such as re-finance, sale and hire purchase back, and personal loan.
ASK has highest market share in Thailand’s heavy truck hire purchase industry. Despite the economic slowdown since 2020, ASK has performed outstandingly satisfactory performance with the highest growth in history. The market outlook is considered to be positive with potential growth. In May 2021, ASK successfully raised new capital for THB3 billion. ASK has strong capital structure and credibility with TRIS rating of BBB+. ASK is headquartered in Bangkok and operates 17 branches in Rayong, Samut Sakhon, Phitsanulok, Chiang Rai, Khon Kaen, Ubon Ratchathani, Lampang, NakhonRatchasima, Udon Thani, Mukdahan, Sa Kaeo, Kanchanaburi, Nakhon Sawan, Chiang Mai, Surat Thani, Chon Buri and Songkhla provinces.
ASK has two subsidiaries, namely Bangkok Grand Pacific Lease Public Company Limited (BGPL) which provides machinery hire purchase, leasing and direct loan business, and SK Insurance Broker Company Limited which offers insurance facilitation services. CHC is the ultimate holding company of ASK. CHC was incorporated in 1977 and is listed on the Taiwan Stock Exchange with a Market Capitalisation of USD12 billion in October 2021. CHC remains the largest leasing company in Taiwan with a market share of over 40% and is amongst the Top 50 companies in Taiwan, in terms of market value. CHC has been named to both of the 2020 DJSI World Index and Emerging Markets indexes in the Diversified Financial Services and Capital Markets Industry.