By Marisa Wong
Madison, Wis., June 11 – Shin Kong Financial Holding Co., Ltd. announced that its subsidiary, Shin Kong Bank, priced NT$2.5 billion of 4.2% perpetual non-cumulative subordinated financial debentures at par.
This is Shin Kong Bank’s first issue of perpetual non-cumulative financial debentures for 2014.
Proceeds will be used to enhance the bank’s financial structure and improve its capital adequacy ratio.
Settlement is slated for June 25.
The holding company and the bank are based in Taipei, Taiwan.
| Issuer: | Shin Kong Bank
|
| Issue: | Perpetual non-cumulative subordinated financial debentures
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| Amount: | NT$2.5 billion
|
| Maturity: | Perpetual
|
| Coupon: | 4.2%
|
| Price: | Par
|
| Yield: | 4.2%
|
| Announcement date: | June 11
|
| Settlement date: | June 25
|
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