By Marisa Wong
Madison, Wis., Dec. 21 - Shin Kong Bank priced NT$4 billion of subordinated financial debentures in two tranches, according to an announcement by Shin Kong Financial Holding Co. Ltd.
The bank priced NT$1 billion of tranche A debentures and NT$3 billion of tranche B debentures. Both tranches are priced at par.
The seven-year tranche A bonds have a coupon of 1.51%, and the 10-year tranche B bonds have a coupon of 1.63%.
The debentures are being sold through a non-underwritten public offering. This is the bank's first issue of subordinated financial debentures for 2012.
Proceeds will be used to enhance the bank's financial structure, to improve capital adequacy ratios and to raise stable mid- to long-term funds.
The bonds will be issued on Dec. 28.
Taipei, Taiwan-based Shin Kong is an investment holding company.
Issuer: | Shin Kong Bank
|
Issue: | Subordinated financial debentures
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Amount: | NT$4 billion
|
Underwriter: | None
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Settlement date: | Dec. 28
|
|
Tranche A
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Amount: | NT$1 billion
|
Maturity: | Dec. 28, 2019
|
Coupon: | 1.51%
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Price: | Par
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Yield: | 1.51%
|
|
Tranche B
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Amount: | NT$3 billion
|
Maturity: | Dec. 28, 2022
|
Coupon: | 1.63%
|
Price: | Par
|
Yield: | 1.63%
|
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