By Jennifer Chiou
New York, Dec. 18 - Shin Kong Financial Holding Co. Ltd. announced that Shin Kong Bank issued NT$3 billion of subordinated financial debentures due Dec. 18, 2016.
The debentures will bear interest at a fixed rate of2.5%.
Proceeds will go toward enhancing the company's financial structure, improving capital adequacy ratios and raising stable mid- to long-term funds.
Plans for the public sale without an underwriter were announced on April 29, 2009.
The securities have a face value of NT$10 million.
Taipei, Taiwan-based Shin Kong is an investment holding company.
| Issuer: | Shin Kong Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$3 billion
|
| Maturity: | Dec. 18, 2016
|
| Coupon: | 2.5%
|
| Price: | Par of NT$10 million
|
| Announcement date: | April 29, 2009
|
| Settlement date: | Dec. 18
|
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