Taiwan's E.Sun Bank plans up to NT$5 billion second issue debentures

By Marisa Wong

Madison, Wis., Aug. 23 - E.Sun Bank plans to issue up to NT$5 billion of second issue financial debentures in 2013, parent company E.Sun Financial Holding Co., Ltd. announced on Friday.

The debentures, which may be issued in multiple tranches, will be priced at par and will have maturities of five to 10 years. The coupons will be based on market conditions.

Proceeds will be used to strengthen the company's capital structure and enhance the BIS ratio.

E.Sun Financial announced in March that E.Sun Bank planned to issue up to NT$5 billion of financial debentures this year. The first issue, consisting of an NT$800 million tranche of 1.55% subordinate bonds due 2020 and a NT$1.5 billion tranche of 1.7% subordinate bonds due 2023, settled in May. More recently, the bank priced a second issue, NT$2.7 billion of 1¾% subordinate bonds due 2020, expected to settle on Aug. 28.

The bank is based in Taipei, Taiwan.

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