By Marisa Wong
Morgantown, W.Va., Sept. 8 – Hua Nan Commercial Bank priced NT$1.8 billion of 10-year subordinated financial bonds at par to yield 1.2%, 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 2016. The bank issued an initial tranche, totaling NT$1.7 billion, in March.
The Taipei, Taiwan-based bank will use proceeds from the second tranche for long-term and stable funding and to improve its capital structure.
| Issuer: | Hua Nan Commercial Bank
|
| Issue: | Subordinated financial bonds, second tranche
|
| Amount: | NT$1.8 billion
|
| Maturity: | Sept. 23, 2026
|
| Coupon: | 1.2%
|
| Price: | Par
|
| Yield: | 1.2%
|
| Announcement date: | Sept. 8
|
| Settlement date: | Sept. 23
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
