Taiwan’s Shin Kong Bank directors approve NT$5 billion of debentures

New York, July 12 – Shin Kong Bank’s board of directors approved the issuance of NT$5 billion of debentures, according to announcements from parent company Shin Kong Financial Holding Co., Ltd.

The approval covers NT$2.5 billion of long-term subordinated financial debentures with a maturity of seven to 10 years and NT$2.5 billion of perpetual non-cumulative subordinated financial debentures.

Both types of debentures will be issued at par.

The underwriting method is still to be determined and the coupons will be set at the prevailing market rate.

Proceeds will be used as mid-to-long-term capital and to strengthen the bank’s financial structure.

Shin Kong Bank is a bank holding company based in Taipei, Taiwan.

© 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.