By Marisa Wong
Madison, Wis., Aug. 14 - E.Sun Bank priced NT$2.7 billion of 1¾% subordinate financial debentures due 2020 at par, according to an announcement by parent company E.Sun Financial Holding Co., Ltd.
This is E.Sun's second issue of subordinate financial debentures for 2013. The bank announced in March that it planned to issue NT$5 billion of debentures in 2013. The first issue, consisting of an NT$800 million tranche of 1.55% bonds due 2020 and a NT$1.5 billion tranche of 1.7% bonds due 2023, settled in May.
The second tranche will settle on Aug. 28.
Proceeds will be used to strengthen the bank's capital structure and enhance the BIS ratio.
The bank is based in Taipei, Taiwan.
| Issuer: | E.Sun Bank
|
| Issue: | Subordinate financial debentures, second issue
|
| Amount: | NT$2.7 billion
|
| Maturity: | Aug. 28, 2020
|
| Coupon: | 1¾%
|
| Price: | Par
|
| Yield: | 1¾%
|
| Settlement date: | Aug. 28
|
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