Taiwan's Mega International plans NT$10 billion of subordinated bonds

By Marisa Wong

Madison, Wis., June 22 - Mega International Commercial Bank Co. Ltd. has filed an application to issue NT$10 billion of subordinated financial debentures, according to an announcement by parent company Mega Financial Holdings Co.

The debentures will be issued at par of NT$10 million and will have maturities of two to 15 years.

The coupons will be determined at pricing.

This will be the Taipei, Taiwan-based bank's 100th issue of subordinated financial debentures.

Proceeds will be used to meet medium- to long-term fund requirements and to raise the BIS ratio.

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