By Marisa Wong
Morgantown, W.Va., March 18 – Hua Nan Commercial Bank priced NT$1.7 billion of 10-year subordinated financial bonds at par to yield 1.55%, according to a Taiwan Stock Exchange notice.
The bank’s board of directors had approved the issuance of up to NT$3.5 billion of bonds in January.
The Taipei, Taiwan-based bank will use proceeds from the current tranche for long-term and stable funding and to improve its capital structure.
| Issuer: | Hua Nan Commercial Bank
|
| Issue: | Subordinated financial bonds
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| Amount: | NT$1.7 billion
|
| Maturity: | March 30, 2026
|
| Coupon: | 1.55%
|
| Price: | Par
|
| Yield: | 1.55%
|
| Announcement date: | March 18
|
| Settlement date: | March 30
|
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