By Marisa Wong
Morgantown, W.Va., Jan. 26 – E.Sun Financial Holding Co., Ltd. said subsidiary E.Sun Bank priced $200 million of 4¾% perpetual non-cumulative subordinated debentures at par.
The debentures are callable after 15 years.
This is the bank’s first issue of subordinated debt for 2018.
Proceeds from the non-underwritten offering will be used to strengthen the bank’s capital structure and enhance its BIS ratio.
The bank is based in Taipei, Taiwan.
| Issuer: | E.Sun Bank
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| Issue: | Subordinated debentures
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| Amount: | $200 million
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| Maturity: | Perpetual
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| Coupon: | 4¾%
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| Price: | Par
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| Yield: | 4¾%
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| Call option: | After 15 years
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| Underwriter: | None
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| Announcement date: | Jan. 26
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| Settlement date: | Feb. 12
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