Vibo Telecom signs NT$3 billion syndicated loan, says paper

Taiwan-based 3G operator Vibo Telecom has signed a three-year NT$3 billion (US$93.6 million) syndicated loan with a consortium led by five commercial banks including Chinatrust Commercial Bank, Ta Chong Bank and Singapore-based DBS Bank, according to a Chinese-language Economic Daily News (EDN) report.

Vibo will use the new funds to repay part of its previous loans and to strengthen its financial capability, said the paper. Vibo had a total of 1.5 million 3G subscribers as of the end of November 2009, the paper added.