By Marisa Wong
Madison, Wis., Nov. 18 – Shin Kong Financial Holding Co., Ltd. announced that its subsidiary, Shin Kong Bank, priced NT$2.5 billion of 10-year debentures at par to yield 2.1%.
This is Shin Kong Bank’s second issue of subordinated financial debentures for 2014.
Proceeds from the non-underwritten offering will be used to strengthen the bank’s financial structure and improve its capital adequacy ratio.
Settlement is slated for Dec. 15.
The holding company and the bank are based in Taipei, Taiwan.
| Issuer: | Shin Kong Bank
|
| Issue: | Subordinated financial debentures
|
| Amount: | NT$2.5 billion
|
| Maturity: | Dec. 15, 2024
|
| Coupon: | 2.1%
|
| Price: | Par
|
| Yield: | 2.1%
|
| Underwriter: | None
|
| Announcement date: | Nov. 18
|
| Settlement date: | Dec. 15
|
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