Taiwan’s E.Sun Bank eyes $1 billion perpetual, long-term debt for 2014

By Marisa Wong

Madison, Wis., Nov. 14 – E.Sun Bank plans to issue up to $1 billion of foreign currency non-cumulative perpetual subordinated financial debentures and subordinated financial debentures with tenors of no more than 30 years, according to an announcement by parent company E.Sun Financial Holding Co., Ltd.

The bank plans to issue the perpetual subordinated debentures and long-term subordinated debentures this year.

The debentures, which may be issued in multiple tranches, will be priced at par. The coupons have yet to be determined.

Proceeds will be used to strengthen the company’s capital structure and enhance working capital.

The bank is based in Taipei, Taiwan.

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