By Marisa Wong
Madison, Wis., Oct. 2 – CTBC Bank Co., Ltd. priced $290 million of fixed-rate financial debentures at par to yield 4.1%, according to a Taiwan Stock Exchange announcement.
The 20-year debentures are the bank’s first issue of senior financial debentures for 2014. The bank previously announced that it planned to issue up to NT$9 billion of debentures this year.
Proceeds from the non-underwritten offering will be used to diversify the bank’s funding sources and to stabilize its medium- and long-term working capital.
The bank is based in Taipei, Taiwan.
| Issuer: | CTBC Bank Co., Ltd.
|
| Issue: | Senior financial debentures
|
| Amount: | $290 million
|
| Maturity: | 2034
|
| Coupon: | 4.1%
|
| Price: | Par
|
| Yield: | 4.1%
|
| Underwriter: | None
|
| Announcement date: | Oct. 2
|
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